Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) has announced the Reference Yield, Tender Offer Consideration and Total Consideration in its cash tender offer (the “Tender Offer”) for specified series of outstanding notes (the “Notes”).
The terms and conditions of the Tender Offer are described in an offer to purchase (the “Offer to Purchase”) and the related letter of transmittal (the “Letter of Transmittal”), each dated February 22, 2016.
The Tender Offer
The Tender Offer commenced on February 22, 2016. Barrick, Barrick North America Finance LLC and Barrick (PD) Australia Finance Pty Ltd (together, the “Offerors”) are offering to purchase for cash the series of Notes set out in the table below for an aggregate purchase price (including principal and premium) of up to $750,000,000, as such amount may be increased by the Offerors, plus accrued and unpaid interest on the Notes from the last applicable interest payment date up to, but not including, the settlement date.
The amount of a series of Notes that is purchased in the Tender Offer, according to a statement, will be based on the order of priority (the “Acceptance Priority Level”) for such series of Notes as set forth in the table below, with 1 being the highest Acceptance Priority Level and 7 being the lowest Acceptance Priority Level. If there are sufficient remaining funds to purchase some, but not all, of the Notes tendered of any series, the amount of Notes purchased in that series will be subject to proration using the procedure more fully described in the Offer to Purchase.
Attached above are the full details of the Debt Tender Offer.