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AuRico Gold Announces Pricing Of $315 Million Senior Secured Second Lien Notes Offering

Stocks in this article: AUQ

TORONTO, March 17, 2014 /PRNewswire/ --

AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), AuRico Gold Inc. ("AuRico" or the "Company") today announces the pricing of its private offering of $315 million aggregate principal amount of Senior Secured Second Lien Notes due 2020 (the "Notes"). The Notes were issued with a coupon of 7.75% and sold at 96.524% of par, and are expected to result in net proceeds to the Company of approximately $297 million, after deducting the initial purchasers' discounts and estimated offering expenses payable by the Company. The offering is expected to close on or about March 27, 2014. AuRico intends to use the net proceeds of the Notes to repurchase its Convertible Notes due 2016 (the "Convertible Notes") that are tendered to AuRico's offer announced March 6, 2014 to purchase any and all of its Convertible Notes, to fund principal and interest payments on any Convertible Notes that remain outstanding following the offer to purchase, to repay amounts outstanding under its existing senior secured credit facility and for general corporate purposes, which may include funding capital expenditures to support organic growth.

The offer and sale of the Notes will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.

All amounts above are in U.S. dollars, unless otherwise indicated.

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