31 Oct 2024capital raising announcement● NeutralMajor
Aris Mining closed the US$450 million 8.000% Senior Notes due 2029 offering and plans to use the proceeds to redeem its 6.875% Senior Notes due 2026 on November 20, 2024, plus working capital and general corporate purposes. The CEO describes the US$300 million existing notes being repaid and maturity extended to October 31, 2029; the new notes carry a higher coupon than the old ones (8.000% vs 6.875%), and the company says it priced below the indicated 8.25%-8.50% range.