Kinross Announces US$500 Million Unsecured 10-Year Debt Offering
Net Proceeds to Repay 2017 Term Loan
TORONTO, ONTARIO -- (Marketwired) -- 02/27/14 -- Kinross Gold
Corporation (TSX:K)(NYSE:KGC) ("Kinross") announced today that it has
priced an offering of debt securities consisting of US$500 million
principal amount of its 5.95% Senior Notes, due 2024. The notes will
be unsecured, senior obligations of Kinross and will be wholly and
unconditionally guaranteed by certain of Kinross' wholly-owned
subsidiaries that are also guarantors under Kinross' senior unsecured
credit agreement. The offering is expected to close on March 6, 2014.
Kinross intends to use the net proceeds to repay a portion of its
term loan, which is due August 2017.
The offering is being made to "qualified institutional buyers"
pursuant to Rule 144A under the Securities Act of 1933 (the "Act")
and outside the United States pursuant to Regulation S under the Act.
The notes have not been and will not be registered under the Act and
the notes may not be offered or sold in the United States absent
registration under the Act or the availability of an applicable
exemption from registration requirements. Offers and sales in Canada
will be made only pursuant to exemptions from the prospectus
requirements of applicable Canadian provincial or territorial
securities laws. This news release does not constitute an offer to
sell or the solicitation of an offer to buy any security.
About Kinross Gold Corporation
Kinross is a Canadian-based gold mining company with mines and
projects in Brazil, Chile, Ghana, Mauritania, Russia and the United
States. Kinross maintains listings on the Toronto Stock Exchange
(symbol:K) and the New York Stock Exchange (symbol:KGC).
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained
or incorporated by reference in this news release, including any
information as to the future performance of Kinross, constitute
"forward-looking statements" within the meaning of applicable
securities laws, including the provisions of the Securities Act
(Ontario) and the provisions for "safe harbour" under the United
States Private Securities Litigation Reform Act of 1995 and are based
on expectations, estimates and projections as of the date of this
news release. Forward-looking statements include, without limitation,
expected or possible events, or statements with respect to expected
or possible events. The words, "expects", "is expected", or
"intends", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would" or "might"
and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
Kinross as of the date of such statements, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Many of these uncertainties and contingencies can
affect, and could cause, Kinross' actual results to differ materially
from those expressed or implied in any forward-looking statements
made by, or on behalf of, Kinross. These factors are not intended to
represent a complete list of the factors that could affect Kinross.
There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. All of the
forward-looking statements made in this news release are qualified by
these cautionary statements. Kinross disclaims any intention or
obligation to update or revise any forward-looking statements or to
explain any material difference between subsequent actual events and
such forward-looking statements, except to the extent required by
Media Contact: Kinross Gold Corporation
Director, Corporate Communications
Investor Relations Contact: Kinross Gold Corporation
Vice-President, Investor Relations
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