Northgate Minerals Expands, Prices Notes Offering
VANCOUVER (AP) Northgate Minerals Corp. said on Thursday that it is increasing the size of its notes offering and set its price at 100 percent of face value, or par.
The company said it saw strong investor demand for its previously announced public offering of convertible notes and agreed to increase the size of the offering to $150 million from $135 million.
The notes will bear interest of 3.5 percent per year.
Northgate said it intends to use the expected $144.1 million in proceeds to finance a portion of the development costs of its Young-Davidson gold mine near Matachewan, Ontario.
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