TSX: G
NYSE: GG
(All Amounts in $US unless stated otherwise)
VANCOUVER, June 4, 2014 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) announced today that it has priced an offering of senior unsecured
notes. Goldcorp will issue $1.0 billion in aggregate principal amount
of notes consisting of $550 million aggregate principal amount of
3.625% notes due June 9, 2021 and $450 million aggregate principal
amount of 5.45% notes due June 9, 2044. The offering is expected to
close on June 9, 2014.
Goldcorp expects to receive net proceeds of approximately US$988 million
from the offering, after deducting underwriting fees and estimated
offering expenses. Goldcorp intends to use these proceeds for
repayment of its $862.5 million of convertible notes maturing August
2014 and repayment of the amounts drawn down under its revolving credit
facility in June 2014.
HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC are acting as
joint book-running managers for the offering. CIBC World Markets
Corp., Scotia Capital (USA) Inc. and RBC Capital Markets, LLC are
acting as the passive book-running managers and Credit Suisse
Securities (USA) LLC, Mitsubishi UFJ Securities (USA), Inc., RBS
Securities Inc. and SMBC Nikko Securities Inc., are acting as
co-managers.
This press release shall not constitute an offer to sell, a solicitation
to buy or an offer to purchase or sell any securities. The offering is
being made pursuant to an effective registration statement in the
United States and a private placement in Canada. A copy of the
prospectus may be obtained for free by visiting EDGAR on the U.S.
Securities and Exchange Commission website at www.sec.gov or SEDAR on the Canadian Securities Administrators website at
www.sedar.com.
Goldcorp is one of the world's fastest growing senior gold producers.
Its low-cost gold production is located in safe jurisdictions in the
Americas and remains 100% unhedged.
Cautionary Note Regarding Forward Looking Statements
This press release contains "forward-looking statements", within the
meaning of the United States Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation, concerning the
business, operations and financial performance and condition of
Goldcorp Inc. ("Goldcorp"). Forward-looking statements include, but are
not limited to, statements with respect to the future price of gold,
silver, copper, lead and zinc, the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing and
amount of estimated future production, costs of production, capital
expenditures, costs and timing of the development of new deposits,
success of exploration activities, permitting time lines, hedging
practices, currency exchange rate fluctuations, requirements for
additional capital, government regulation of mining operations,
environmental risks, unanticipated reclamation expenses, timing and
possible outcome of pending litigation, title disputes or claims and
limitations on insurance coverage. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", "believes" or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved" or the negative connotation thereof.
Forward-looking statements are made based upon certain assumptions and
other important factors that, if untrue, could cause the actual
results, performances or achievements of Goldcorp to be materially
different from future results, performances or achievements expressed
or implied by such statements. Such statements and information are
based on numerous assumptions regarding present and future business
strategies and the environment in which Goldcorp will operate in the
future, including the price of gold, anticipated costs and ability to
achieve goals. Certain important factors that could cause actual
results, performances or achievements to differ materially from those
in the forward-looking statements include, among others, gold price
volatility, discrepancies between actual and estimated production,
mineral reserves and resources and metallurgical recoveries, mining
operational and development risks, litigation risks, regulatory
restrictions (including environmental regulatory restrictions and
liability), activities by governmental authorities (including changes
in taxation), currency fluctuations, the speculative nature of gold
exploration, the global economic climate, dilution, share price
volatility, competition, loss of key employees, additional funding
requirements and defective title to mineral claims or property.
Although Goldcorp has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other important factors that may cause the actual
results, level of activity, performance or achievements of Goldcorp to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks related
to the integration of acquisitions; risks related to international
operations, including economic and political instability in foreign
jurisdictions in which Goldcorp operates; risks related to current
global financial conditions; risks related to joint venture operations;
actual results of current exploration activities; environmental risks;
future prices of gold, silver, copper, lead and zinc; possible
variations in ore reserves, grade or recovery rates; mine development
and operating risks; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing or in the completion of development or construction
activities; risks related to indebtedness and the service of such
indebtedness, as well as those factors discussed in the section
entitled "Description of the Business - Risk Factors" in Goldcorp's
annual information form for the year ended December 31, 2013 available at www.sedar.com and in materials filed with or furnished to the U.S. Securities
Exchange Commission and available at www.sec.gov. Although Goldcorp
has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Forward-looking statements are made as of
the date hereof and accordingly are subject to change after such date.
Except as otherwise indicated by Goldcorp, these statements do not
reflect the potential impact of any non-recurring or other special
items or of any dispositions, monetizations, mergers, acquisitions,
other business combinations or other transactions that may be announced
or that may occur after the date hereof. Forward-looking statements
are provided for the purpose of providing information about
management's current expectations and plans and allowing investors and
others to get a better understanding of our operating environment.
Goldcorp does not undertake to update any forward-looking statements
that are included in this document, except in accordance with
applicable securities laws.
SOURCE Goldcorp Inc.