FINANCE: Goldcorp goes to market for $1B

VANCOUVER – Goldcorp is making a US$1-billion offering of senior unsecured notes. The first portion, US$550 million, will bear an interest rate of 3.625% due June 9, 2021. The remaining US$450 million will bear an interest rate of 5.45%...

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VANCOUVER – Goldcorp is making a US$1-billion offering of senior unsecured notes. The first portion, US$550 million, will bear an interest rate of 3.625% due June 9, 2021. The remaining US$450 million will bear an interest rate of 5.45% due June 9, 2044.

Net proceeds are expected to be US$988 million. Goldcorp says it will use most of the funds to replay US$862.5 million worth of convertible notes that mature in August 2014. The balance will go toward repaying the company's revolving credit facility.

Goldcorp produced 2.27 million oz of gold in 2013. For information on its mines and projects spanning the Americas, visit Goldcorp.com.

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