New Gold Announces Pricing of $400 million Senior Notes Offering to Fund Tender Offer for Outstanding 7.50% Senior Notes
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New Gold Inc. has announced the pricing of a $400 million Senior Notes offering with a 6.875% interest rate due in 2032. The proceeds will fund a tender offer for its outstanding 7.50% Senior Notes.
March 04, 2025 | 10:15 pm
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New Gold Inc. has priced a $400 million Senior Notes offering at 6.875% to fund a tender offer for its 7.50% Senior Notes. This move is part of a refinancing strategy to manage debt costs.
The issuance of new notes at a lower interest rate than the existing ones suggests a strategic move to reduce interest expenses, which is positive for the company's financial health. This could lead to a favorable short-term impact on NGD's stock price.
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