Nordgold Completes Eurobonds Buyback Programme
Amsterdam, Netherlands, December 16, 2014 - Nord Gold N.V. ("Nordgold" or "the Company", LSE: NORD), an internationally diversified, low-cost gold producer, is pleased to announce that it has completed buyback of the Company’s Eurobonds, which was approved by the Board of Directors on August 28, 2014.
In the course of the completed buyback programme, the Company has repurchased the Notes in the open-market in an aggregate principle amount of 50,000 for a nominal value of US$50 million.
As at December 15, 2014, an aggregate 450,000 Notes remained in the open-market at an aggregate nominal value of US$ 450 million.
In May 2013, Nordgold placed $500 million in bonds with a 6.375% coupon, maturing in 2018..
Nikolai Zelenski, CEO of Nordgold, said:
I am pleased to announce the successful completion of the Eurobonds buyback programme. Nordgold is financially sound and has used surplus cash to repurchase Eurobonds in the open-market in accordance with the Company’s strategy to reduce leverage through effective debt management further strengthening the balance sheet.Nikolai Zelenski, Chief Executive Officer, Nordgold
Nordgold (LSE: NORD) is an international low-cost gold producer established in 2007. The Company has expanded rapidly through carefully targeted acquisitions and organic investment, achieving a rate of growth unmatched in the industry during that period. In 2013 Nordgold’s gold production was 924 thousand ounces, up from 717 thousand ounces in 2012.
The company operates 9 active mines and has 2 development projects, 4 advanced exploration projects and a diverse portfolio of early-stage exploration projects and licenses in Russia, Kazakhstan, Burkina Faso, Guinea, French Guiana and Canada. Nordgold employs about 10,000 people.www.nordgold.com
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