Barrick Completes Sale of $750 Million in Debt Securitiesadmin
Barrick Gold Corporation announced the completion of the sale of $750 million of 6.95% notes due 2019 to a syndicate of underwriters led by Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc., and Citigroup Global Markets Inc.
The net proceeds of the offering will be used for general corporate purposes, including to fund construction at Barrick’s projects and make investments in Barrick’s subsidiaries.
“We are pleased to have further strengthened our liquidity with this bond offering,” said Jamie Sokalsky, Executive Vice President and Chief Financial Officer. “Combined with our year end cash balance of $1.4 billion, undrawn $1.5 billion credit facility and strong operating cash flows, this financing enhances the Company’s ability to continue executing our plans.”
Barrick’s vision is to be the world’s best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.