http://www.reuters.com/article/marketsNews/idAFN2640500020090126?rpc=44UPDATE 1-Silver Wheaton to raise C$250 mln in bought deal (In U.S. dollars unless noted)
TORONTO, Jan 26 (Reuters) - Silver Wheaton (
SLW.TO) said on
Monday it will sell at least C$250 million ($205 million) in
stock by way of a bought-deal financing, and use the proceeds
to pay down debt.
The Canadian company, which buys silver byproduct from
other miners and resells it, joins the ranks of other precious
metals miners that have shored up their balance sheets of late
by selling stock.
The Canadian company said it will sell 31.25 million shares
at a price of C$8.00 a share through a syndicate of
underwriters led by Genuity Capital Markets and GMP Securities.
It will use the proceeds to repay the company's revolving debt
facility and for general corporate purposes.
The underwriters also have an option to buy an additional
C$37.5 million in stock.
Silver Wheaton's shares closed at C$8.53 on the Toronto
Stock Exchange on Monday.
After the deal goes through, Silver Wheaton will have about
$20 million drawn from its $400 million revolving debt
facility, which will be available to fund further growth
opportunities, it said.
Gold-mining companies Agnico-Eagle (
AEM.TO) , Kinross Gold
(
K.TO), Yamana Gold (
YRI.TO), and Red Back Mining (
RBI.TO),
have also issued stock in recent weeks to take advantage of
resurgent interest in the precious metal as a hedge against
slow growth and future inflation.
Silver <XAG=> was around $12 an ounce on Monday. The metal
has risen about 34 percent since bottoming in November, but is
well below last year's highs above $20 an ounce.
($1=$1.22 Canadian)
(Reporting by Cameron French; editing by Peter Galloway)
_________________
SILVER is KING...Go GOLD...!!! 
Sujet: File des NEWS SLW 
Jeu 18 Sep 2008 - 19:28
