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BRIEF-Mandalay Resources announces completion of revised repurchase offer

Published 2017-05-24, 08:26 a/m
© Reuters.  BRIEF-Mandalay Resources announces completion of revised repurchase offer

May 24 (Reuters) - Mandalay Resources Corp MND.TO :

* Mandalay Resources - gold exchange revised repurchase offer, consent solicitation in respect of U.S.$60 million principal amount 5.875% secured exchangeable bonds due 2019

* Mandalay -original repurchase bond offer,consent solicitation was not completed; gel entered discussions with holders to implement alternative arrangements

* Mandalay Resources Corp - holders of 100% of bonds have now executed a written resolution approving repurchase and consent solicitation

* Mandalay Resources - holders approve repurchase,consent solicitation on same terms as original proposal except interest rate increased to 6.875%/annum

* Mandalay Resources Corp - gel has agreed to purchase us$29.95 million principal amount of bonds from holders Source text for Eikon: ID:nGNXNWVIDa Further company coverage: MND.TO

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