Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

OceanaGold Announces A$40 million Offering

OceanaGold Announces Launch of A$40 million Offering of Convertible Notes

Melbourne, Australia – OceanaGold Limited announced today that it has launched an offering of A$40 million in unsecured convertible notes (the "Notes") due in December 2012. In addition, the Lead Manager, Barclays Capital, has an option to increase the issue size by an additional A$10 million, subject to shareholder approval, if required. The offering of the Notes is subject to the receipt of all necessary regulatory approvals.

The seven-year Notes are expected to carry a coupon of between 5.75% and 6.25% per annum with a premium payable upon redemption. The issuer has the right to redeem all outstanding Notes at their accreted principal amount on or after January 2009 if the parity of the Notes exceeds for a specified period of time 130% or more of their accreted principal amount. Also investors have the right to redeem all outstanding Notes at their accreted principal amount on their fifth anniversary. The effective conversion price is expected to be between 31% and 36% to the OceanaGold closing share price on the Australian Stock Exchange at the time of pricing.

The Notes are expected to price today and closing is expected on or about December 22, 2005.

OceanaGold is offering the Convertible Notes to European institutional investors and intends to apply for listing of the Convertible Notes on the Singapore Stock Exchange.

Proceeds from the offering will be used to fund project development on the South Island of New Zealand.

Barclays Capital is Sole Bookrunner and Stabilisation Manager.

- ENDS -

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Commerce Commission: Appeals Record $2.25m Fine In Vodafone FibreX Case

The Commerce Commission has filed an appeal in the High Court against a record $2.25 million fine imposed on Vodafone NZ Limited (Vodafone) for its offending under the Fair Trading Act during its FibreX advertising campaign. While the sentence imposed in the Auckland District Court on April 14 was the largest-ever fine under the Fair Trading Act, the Commission will argue that it is manifestly inadequate... More>>



All District Health Boards: Historic Pay Equity Settlement

An historic agreement has been ratified that addresses a long-standing undervaluation of a workforce that is critical to the smooth running of our hospitals and the delivery of healthcare... More>>


MPI: Dry Autumn In Waikato And South Auckland Leads To Drought Classification Drought conditions affecting the primary sector in the Waikato and South Auckland were today classified as a medium-scale adverse event, enabling a package of support for farmers and growers... More>>


Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>


DoC: Smeagol The ‘Gravel Maggot’ Leaves Its Rare Mark On The Remote West Coast
An extremely rare species of sea slug or ‘gravel maggot’ has been detected for the first time on a remote beach in South Westland... More>>



Immigration: Annual Net Migration Loss Of 7,300

The provisional net loss of 7,300 people in the year ended March 2022 was the lowest net migration for a March year since 2012, Stats NZ said today... More>>