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Silver Wheaton Corp. (TSX:SLW,NYSE:SLW) announced that it’s closed its previously announced bought-deal common share financing. In all, 33,135,000 common shares of the company were sold at US$16.60 each for aggregate gross proceeds of about US$550 million.
Silver Wheaton Corp. (TSX:SLW,NYSE:SLW) announced that it’s closed its previously announced bought-deal common share financing. In all, 33,135,000 common shares of the company were sold at US$16.60 each for aggregate gross proceeds of about US$550 million.
As quoted in the press release:
Silver Wheaton intends to use the net proceeds from the Offering to repay a portion of the debt that was drawn on the Company’s US$2 billion revolving credit facility in November 2015 for the US$900 millionpurchase of the silver stream on the Antamina mine in Peru.
The Offering was led by RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotiabank (the “Underwriters”). Silver Wheaton has granted to the Underwriters an option to purchase up to an additional 4,970,250 common shares at a price of US$16.60 per share, on the same terms and conditions as the Offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to Silver Wheaton will be approximately US$632.5 million.
Click here to read the full Silver Wheaton Corp. (TSX:SLW,NYSE:SLW) press release.