Yamana Announces Pricing of US$500 Million of 10-Year Unsecured Senior Notes
August 04 2021 - 4:49PM
YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) (“Yamana”
or the “Company”) today announced that it has priced an offering of
US$500 million aggregate principal amount of its 2.630% Senior
Notes due August 15, 2031. The notes will be unsecured, senior
obligations of Yamana and will be unconditionally guaranteed by
certain of Yamana’s subsidiaries that are also guarantors under
Yamana’s credit facility. The offering is expected to close on
August 6, 2021. Yamana intends to use the net proceeds from the
offering, together with cash on hand, to fund the redemptions of
its 4.76% Series C Senior Notes due 2022, its 4.91% Series D Senior
Notes due 2024, its 4.78% Series B Senior Notes due 2023 and its
4.950% Senior Notes due 2024 thereby reducing its overall
outstanding debt, reducing overall interest and carrying charges on
outstanding debt and extending outstanding debt maturities.
The Senior Notes and the related guarantees have
not been registered under the U.S. Securities Act of 1933, as
amended (the “Securities Act”), and may not be offered or sold in
the United States absent registration or an applicable exemption
from the registration requirements of the Securities Act. Offers
and sales in Canada will be made only pursuant to exemptions from
the prospectus requirements of applicable Canadian provincial or
territorial securities laws. This news release does not constitute
an offer to sell or the solicitation of an offer to buy any
security in the United States or in any other jurisdiction.
About Yamana
Yamana is a Canadian-based precious metals
producer with significant gold and silver production, development
stage properties, exploration properties, and land positions
throughout the Americas, including Canada, Brazil, Chile and
Argentina. Yamana plans to continue to build on this base through
expansion and optimization initiatives at existing operating mines,
development of new mines, the advancement of its exploration
properties and, at times, by targeting other consolidation
opportunities with a primary focus in the Americas.
FOR FURTHER INFORMATION, PLEASE
CONTACT:Investor Relations
416-815-02201-888-809-0925Email: investor@yamana.com
FTI Consulting (UK Public
Relations)Sara Powell / Ben Brewerton+44 7931 765 223 /
+44 203 727 1000
Peel Hunt LLP (Joint UK Corporate
Broker)Ross Allister / David McKeown / Alexander
AllenTelephone: +44 (0) 20 7418 8900
Berenberg (Joint UK Corporate
Broker)Matthew Armitt / Jennifer Wyllie / Detlir Elezi
Telephone: +44 (0) 20 3207 7800
Credit Suisse (Joint UK Corporate
Broker)Ben Lawrence / David Nangle Telephone: +44 (0) 20
7888 8888
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: This news release contains or incorporates by reference
“forward-looking statements” and “forward-looking information”
under applicable Canadian securities legislation and within the
meaning of the United States Private Securities Litigation Reform
Act of 1995. Forward-looking information includes, but is not
limited to, information with respect to the expected closing date
of the offering and Yamana’s expected use of proceeds from the
offering. Forward-looking statements are characterized by words
such as “plan", “expect”, “budget”, “target”, “project”, “intend”,
“believe”, “anticipate”, “estimate” and other similar words, or
statements that certain events or conditions “may” or “will” occur.
Forward-looking statements are based on the opinions, assumptions
and estimates of management considered reasonable at the date the
statements are made, and are inherently subject to a variety of
risks and uncertainties and other known and unknown factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors
include unanticipated changes to the scheduled closing date for the
offering, to Yamana’s cash on hand and use of proceeds from the
offering, as well as those risk factors discussed or referred to in
the Company's Annual Information Form filed with the securities
regulatory authorities in all provinces of Canada and available at
www.sedar.com, and the Company’s Annual Report on Form 40-F
filed with the United States Securities and Exchange
Commission. Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. The Company undertakes no obligation to update
forward-looking statements if circumstances or management’s
estimates, assumptions or opinions should change, except as
required by applicable law. The reader is cautioned not to place
undue reliance on forward-looking statements. The forward-looking
information contained herein is presented for the purpose of
assisting investors in understanding the Company’s plans,
objectives and expectations in connection with the offering, and
may not be appropriate for other purposes.
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