Eldorado Gold Announces Pricing of US$300 Million Senior Secured Second Lien Notes Offering
22 May 2019 - 8:45PM
Eldorado Gold Corporation ("Eldorado", the "Company" or "We") is
pleased to announce that it has priced its offering of US$300
million aggregate principal amount of 9.5% senior secured second
lien notes due 2024 (the "Notes"), which will be offered at 98% of
par. The settlement date for the issue of the Notes is expected to
be on or about June 5, 2019.
Eldorado intends to use the net proceeds from the
sale of the Notes, together with term loan proceeds incurred under
its new Senior Secured Credit Facility and cash on hand, to redeem
its outstanding US$600 million 6.125% Senior Notes due December
2020, and to pay fees and expenses in connection with the
foregoing.
The Notes have not been registered under the United
States Securities Act of 1933, as amended (the "Securities Act"),
or the securities laws of any state and may not be offered or sold
absent registration under the Securities Act or an applicable
exemption from the registration requirements thereof. The Notes
will be offered and sold only to persons reasonably believed to be
qualified institutional buyers in accordance with Rule 144A under
the Securities Act and to certain “non-U.S. persons” outside the
United States in reliance on Regulation S under the Securities Act
and in each case pursuant to available prospectus exemptions from
securities laws of British Columbia. The Notes will be offered and
sold outside of the US (including in Canada) on a private placement
basis pursuant to certain exemptions from applicable securities
laws.
This news release does not constitute an offer to
sell or a solicitation of an offer to buy, nor shall there be any
sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction or
an exemption therefrom. This press release is being issued
pursuant to and in accordance with Rule 135c under the Securities
Act.
About Eldorado Gold
Eldorado is a gold and base metals producer with
mining, development and exploration operations in Turkey, Canada,
Greece, Romania, Serbia, and Brazil. The Company has a highly
skilled and dedicated workforce, safe and responsible operations, a
portfolio of high-quality assets, and long-term partnerships with
local communities. Eldorado's common shares trade on the
Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange
(NYSE: EGO).
Contacts
Investor RelationsPeter Lekich,
Manager Investor Relations604.687.4018 or
1.888.353.8166 peter.lekich@eldoradogold.com
MediaLouise Burgess, Director
Communications & Government Relations604.687.4018 or
1.888.353.8166 louiseb@eldoradogold.com
Cautionary Note Regarding Forward-Looking
Statements
This news release contains forward looking
statements and forward looking information within the meaning of
applicable Canadian and U.S. securities laws. Often, but not
always, forward-looking statements and forward-looking information
can be identified by the use of words such as "plans", "expects",
"is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negatives thereof or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
or information herein include, but are not limited to the pricing
of the Notes, and the completion of the transactions in
connection with the offering of Notes and the new Senior Secured
Credit Facility.
Forward-looking statements and forward-looking
information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information. We have made certain
assumptions about the forward-looking statements and information
and even though our management believes that the assumptions made
and the expectations represented by such statements or information
are reasonable, there can be no assurance that the forward-looking
statement or information will prove to be accurate. Furthermore,
should one or more of the risks, uncertainties or other factors
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in
forward-looking statements or information. These risks,
uncertainties and other factors include, among others, the
following: our ability to satisfy the conditions of closing the
offering, including obtaining any required consents and documents
and the need to negotiate and execute the indenture and related
documents; the need for continued cooperation of the initial
purchasers; the need to successfully market the offering; gold
price volatility, discrepancies between actual and estimated
production, mineral reserves and resources and metallurgical
recoveries; mining operational and development risk; litigation
risks; regulatory restrictions, including environmental regulatory
restrictions and liability; risks of sovereign investment; currency
fluctuations; speculative nature of gold exploration; global
economic climate; dilution; share price volatility; competition;
loss of key employees; additional funding requirements; and
defective title to mineral claims or property, as well as those
factors discussed in the sections entitled “Forward-Looking
Statements” and “Risk Factors” in the Company's Annual Information
Form & Form 40-F dated March 29, 2019.
There can be no assurance that forward-looking
statements or information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, you should not place
undue reliance on the forward-looking statements or information
contained herein. Except as required by law, we do not expect to
update forward-looking statements and information continually as
conditions change and you are referred to the full discussion of
the Company's business contained in the Company's reports filed
with the securities regulatory authorities in Canada and the
U.S.
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