Goldcorp Closes Secondary Offering of Tahoe Resources Shares

Silver Investing

Goldcorp Inc. (TSX:G,NYSE:GG) announced that it’s closed its secondary offering of Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) shares. It sold 58,051,692 Tahoe common shares that it held beneficially for C$17.20 per share; that amounts to gross proceeds of about C$1 billion.

Goldcorp Inc. (TSX:G,NYSE:GG) announced that it’s closed its secondary offering of Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) shares. It sold 58,051,692 Tahoe common shares that it held beneficially for C$17.20 per share; that amounts to gross proceeds of about C$1 billion.

Goldcorp now owns no common shares of Tahoe. Tahoe did not receive any proceeds from the sale.

As quoted in the press release:

The Offering was completed through a syndicate of underwriters led by GMP Securities L.P. and BMO Nesbitt Burns Inc.acting as joint bookrunners and including CIBC World Markets Inc., HSBC Securities (Canada) Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Citigroup Global Markets Canada Inc., Credit Suisse Securities (Canada), Inc., Goldman Sachs Canada Inc.,Laurentian Bank Securities Inc., Merrill Lynch Canada Inc., Morgan Stanley Canada Ltd.,Beacon Securities Limited, Canaccord Genuity Corp., Cormark Securities Inc., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd., Paradigm Capital Inc. and Raymond James Ltd.

Chuck Jeannes, president and CEO of Tahoe, commented:

This transaction is consistent with our long-term commitment to maintaining a strong balance sheet. The team at Tahoe has done an outstanding job of creating shareholder value and we wish them continued success in the future.

Click here to read the full Goldcorp Inc. (TSX:G,NYSE:GG) press release.

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