Silvercorp Metals Inc., a Canadian mining company, has announced the pricing of a private offering of convertible senior notes totaling $130 million, with a 4.75 percent interest rate, maturing in 2029. The transaction is anticipated to close around November 25.
The net proceeds from this offering are projected to be approximately $124.2 million. This figure could rise to about $143.5 million should the initial purchasers fully exercise their option to acquire additional notes.
The capital raised will be directed towards the construction of copper-gold mining projects outside China, further exploration and development of other initiatives, as well as general working capital purposes.
Additionally, Silvercorp has extended an option to the initial purchasers, allowing them to buy up to an extra $20 million of notes.
