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Message: Announces $750 Million Offering of Convertible Senior Notes
| June 1, 2009 |
| Goldcorp Announces $750 Million Offering of Convertible Senior Notes |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2009) - (All dollar amounts in United States dollars (US$)) Goldcorp Inc. (TSX:G)(NYSE:GG) announced today that it is planning a private offering of approximately $750.0 million of convertible senior notes due 2014 (the "notes"). Goldcorp expects to grant the initial purchasers in the offering a 30-day option to purchase up to an additional $112.5 million of notes to cover over-allotments, if any. Although the terms of the offering have not been established, it is expected that the price at which the notes will be convertible into Goldcorp common shares will be set at a premium to the market price of Goldcorp common shares, that a holder's right to convert will be contingent on Goldcorp common shares trading at a premium to such conversion price or upon the occurrence of certain other events and that, upon conversion, Goldcorp may, in lieu of delivery of its common shares, elect to pay or deliver, as the case may be, cash or a combination of cash and common shares, in respect of the converted notes. Goldcorp intends to use the net proceeds from the sale of the notes to repay indebtedness under its revolving term credit facility, with the balance to be used for general corporate purposes, including capital expenditures. The notes and the common shares issuable upon conversion of the notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933, as amended. Offers and sales of the notes in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial or territorial securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security. |
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