B2Gold Announces $350 Mln Convertible Notes Offering Due 2030

B2Gold

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(RTTNews) - B2Gold Corp. (BTO, BTG, B2G) Friday, announced an offering of convertible senior unsecured notes due 2030, with a total principal amount of $350 million.

Additionally, the company has granted initial purchasers a 15-day option to acquire up to an extra $52.5 million in notes.

The net proceeds from the offering are intended to fund working capital needs and general corporate purposes.

The notes will bear fixed-rate cash interest, paid semi-annually, and will be convertible into common shares of B2Gold. The company retains the right to redeem the notes under specific conditions, while holders will have the option to require repurchase of their notes upon certain triggering events.

In connection with the offering, B2Gold plans to enter a total return swap worth up to $50 million of shares with one of the initial purchasers. This swap is intended to provide B2Gold with economic exposure to its shares over an approximate one-month period.

The company remains focused on using this financing strategy to strengthen its financial position and support its ongoing operational requirements.

BTG is currently trading at $2.35, on the New York Stock Exchange.