Yamana Gold Announces Early Results of Cash Tender Offers for Certain of Its Outstanding Public Notes

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Yamana Gold Announces Early Results of Cash Tender Offers for Certain of Its Outstanding Public Notes

by ahnationtalk on July 19, 2019217 Views

TORONTO, July 19, 2019  — YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) today announced the early results of its previously announced cash tender offer for its 4.95% Senior Notes due 2024 and 4.625% Senior Notes due 2027 (collectively, the “Public Notes”).  According to information received from D.F. King & Co., Inc., the Information Agent for the tender offer, as of 5:00 p.m., New York City time, on July 18, 2019, the following Public Notes have been tendered to the tender offer:

Title of Notes CUSIP Number Principal Amount
Priority Level
4.95% Senior Notes due 2024 98462YAB6
347,891,000 2
4.625% Senior Notes due 2027 98462YAD2 114,529,000 3

The tender offer is made pursuant to Yamana’s Offer to Purchase, dated July 5, 2019 (the “Offer to Purchase”), in which Yamana has also offered to purchase several series of its other Senior Notes, which are referred to in the Offer to Purchase as the Private Notes. As set out in the Offer to Purchase, if $415,000,000 aggregate principal amount or more of the Private Notes are tendered in the tender offer, Yamana will not accept any tenders of Public Notes for purchase. In addition, the principal amount of each series of Public Notes that is purchased in the tender offer will be determined in accordance with the acceptance priority level (in numerical priority order) specified above.

The $462,420,000 of Public Notes tendered under this Offer to Purchase is well in excess of the $415,000,000 available to the Public Note Holders. This well positions the Company toward achieving its goal of meaningfully retiring outstanding debt and thereby significantly improving its financial position in order to pursue organic growth and value creating opportunities.

For all details regarding the tender offer for the Public Notes and the Private Notes, investors should refer to the Offer to Purchase. Requests for documents and questions regarding the tendering of Public Notes may be directed to D.F. King & Co., Inc. either by email at [email protected], or by phone (212) 269-5550 (for banks and brokers only) or (866) 521-4487 (for all others toll free). Questions regarding the tendering of Private Notes may be directed to AST Trust Company (Canada) by phone (416) 682-3860 or 1-800-387-0825 (toll free). Yamana expressly reserves the right, in its sole discretion, subject to applicable law, to terminate or amend the tender offer for the Public Notes.

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders with respect to, the Notes. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Tender Offers are being made solely pursuant to the Offer to Purchase and the related Letter of Transmittal made available to Holders of the Notes. Neither Yamana or any other person or entity referred to herein or in the Offer to Purchase is making any recommendation as to whether or not holders should tender or refrain from tendering all or any portion of their Public Notes or Private Notes. Holders are urged to evaluate carefully all information in the Offer to Purchase and the related Letter of Transmittal, consult their own investment and tax advisers and make their own decisions whether to tender Public Notes or Private Notes, and, if so, the principal amount thereof.

About Yamana

Yamana is a Canadian-based gold producer with significant gold production, gold 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 existing operating mine expansions, throughput increases and optimization initiatives, development of new mines, the advancement of its exploration properties and, at times, by targeting other gold consolidation opportunities with a primary focus in the Americas.


Investor Relations and Corporate Communications
Email: [email protected]


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