Tuesday, 30 April 2013 03:52
Posted by Asad Naeem
TORONTO: Barrick Gold Corp said on Monday that it would issue some $3 billion in debt securities to pay down a revolving credit facility, repay principal on notes due in 2013, and for general corporate purposes.The world's largest gold miner will offer $650 million in 2.5 percent notes due 2018, $1.5 billion in 4.1 percent notes due in 2023, and $850 million in 5.75 percent notes due in 2043. The 2043 notes are guaranteed by the company.Toronto-based Barrick, which had previously said that it planned to issue long-term debt securities to further improve liquidity, expects the offering to close around May 2, 2013.The company's total debt stood $14.8 billion as of March 31, according to its first-quarter earnings release.Barrick has struggled in recent weeks with the sharp fall in gold prices, a shareholder revolt over its executive compensation plan and new setbacks at its flagship Pascua-Lama development project on the ...
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TORONTO: Barrick Gold Corp said on Monday that it would issue some $3 billion in debt securities to pay down a revolving credit facility, repay principal on notes due in 2013, and for general corporate purposes.The world's largest gold miner will offer $650 million in 2.5 percent notes due 2018, $1.5 billion in 4.1 percent notes due in 2023, and $850 million in 5.75 percent notes due in 2043. The 2043 notes are guaranteed by the company.Toronto-based Barrick, which had previously said that it planned to issue long-term debt securities to further improve liquidity, expects the offering to close around May 2, 2013.The company's total debt stood $14.8 billion as of March 31, according to its first-quarter earnings release.Barrick has struggled in recent weeks with the sharp fall in gold prices, a shareholder revolt over its executive compensation plan and new setbacks at its flagship Pascua-Lama development project on the ...
LONDON: Wheat prices in western Europe rose on Monday aided by weather concerns, as a drop in temperatures slowed crop development in the region, while in the US anticipated further wet weather delays to corn crop plantings triggered a rally."After Chicago opened prices surged here because of adverse weather conditions in the United States for wheat and corn," a French trader said.On the benchmark Paris futures market, new-crop November milling wheat in Paris gained 3.50 ...
LONDON: Copper rose on Monday, extending a recovery from 1-1/2 year lows hit last week supported by hopes for more US and European central bank monetary easing and on signs of life in the physical markets.Also helping copper, European shares rose after a coalition government was named in Italy, ending a two-month-old political impasse. The dollar fell versus the euro meanwhile, making dollar-priced metals cheaper for non-US investors.Benchmark three-month copper on the London Metal Exchange ...
CHICAGO: US new-crop corn futures were headed for their biggest gains in more than two years on Monday as forecasts for more rain in what is already one of the wettest springs in history will delay plantings a year after drought sapped yields and reduced supplies in the world's largest producer and exporter.Wheat and soybean futures also rose sharply, leading a broad commodities rally as the dollar eased. The Thomson Reuters Jefferies CRB index of ...
LONDON: US corn futures rose to the highest level in more than one week on Monday as forecasts for cold, wet weather across the US Plains heightened concern about planting delays. Wheat prices rose, lifting the outlook for the hard red winter crop, and soybeans edged higher.The US Department of Agriculture is due to provide an updated estimate of planting progress later on Monday. Last week it said only 4 percent of the US corn ...
LONDON: Speculators increased a net long position in cocoa futures and options on NYSE Liffe in the week to April 23, exchange data showed on Monday. A net long in robusta coffee was cut, while speculators reduced a net short in white sugar. Speculators raised the net long in cocoa by 12,459 lots to 39,764 lots, while the net long in robusta coffee was reduced by 5,608 lots to 11,425 lots. In white sugar ...
