New Gold Completes Redemption Of Its Remaining Outstanding 6.375% Senior Notes
PR Newswire
TORONTO
,
May 16, 2022
/PRNewswire/ –
New Gold Inc. (“New Gold” or the “Company”)
(TSX: NGD) (NYSE American: NGD) announces completion of the previously announced redemption of its outstanding
$100 million
aggregate principal amount of its 6.375% Senior Notes due 2025 (the “2025 Notes”). The redemption of the 2025 Notes was funded with cash on hand. Following the completion of the redemption, the Company has approximately
$326 million
of cash
1
and a strong liquidity position of approximately
$702 million
2
.
Endnotes
-
Based on cash and equivalents as at
March 31, 2022
of
$432 million
less redemption principal, redemption premium, and accrued interest. -
Approximately
$24 million
of the Company’s
$400 million
credit facility is currently used for Letters of Credit related to mine closure costs.
About New Gold
New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in
Canada
, the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds a 5% equity stake in Artemis Gold Inc., and other Canadian-focused investments. New Gold’s vision is to build a leading diversified intermediate gold company based in
Canada
that is committed to the environment and social responsibility. For further information on the Company, visit
www.newgold.com
.
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SOURCE New Gold Inc.