New Gold Announces Closing of $500 Million Senior Notes Offering
(All figures are in US dollars unless otherwise indicated)
VANCOUVER, Nov. 14, 2012 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE MKT:NGD) today announces the closing of its private offering of $500 million aggregate principal amount of 6.25% Senior Notes due 2022 (the "Notes"). New Gold intends to use the net proceeds of the Notes for general corporate purposes.
"To be able to significantly increase our financial flexibility, in this historically low interest rate environment and without issuing a share, is a great result for our company," stated Brian Penny, Chief Financial Officer. "As we have done historically, New Gold will look for opportunities to put this capital to use in a manner that is value enhancing for the company."