New Gold Completes Redemption of 2022 Senior Notes
July 10 2020 - 5:01PM
Business Wire
(All dollar figures are in US dollars unless
otherwise indicated)
July 10, 2020- New Gold Inc. (“New Gold” or the “Company”)
(TSX and NYSE American: NGD) today announces that it has
completed the previously announced redemption of its outstanding
$400 million 6.25% Senior Notes due 2020. The redemption was funded
from the net proceeds of its recent issue of $400 million aggregate
principal amount of 7.50% Senior Notes due in 2027 and cash on
hand.
“The redemption of our 2022 Senior Notes is another key
milestone we have achieved that has significantly enhanced our
financial flexibility and strengthened our balance sheet,” stated
Robert Chasse, Executive Vice President and Chief Financial
Officer. “Our improving operational performance along with the
completion of several other key transactions during the year has
repositioned New Gold for the next phase in our growth
strategy.”
About New Gold Inc.
New Gold is a Canadian-focused intermediate gold mining company
with a portfolio of two core producing assets in Canada, the Rainy
River and New Afton Mines as well as the 100% owned Blackwater
development project. The Company also operates the Cerro San Pedro
Mine in Mexico (in reclamation). New Gold’s vision is to build a
leading diversified intermediate gold company based in Canada that
is committed to environment and social responsibility. For further
information on the Company, visit www.newgold.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200710005489/en/
Anne Day Vice President, Investor Relations Direct: +1
(416) 324-6003 Email: anne.day@newgold.com
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