Osisko Gold Completes US$600 Million Aggregate Principal Amount of 9.250% Senior Secured Notes Offering
Key Highlights
- ➤US$600 million 9.250% senior secured notes due October 1, 2031 completed
- ➤US$578.0 million net proceeds received after discounts, commissions, and expenses
- ➤US$120.8 million used to repay and terminate the Appian Credit Facility
- ➤Cariboo Gold Project fully funded through anticipated commercial production in 2029
- ➤C$215 million projected capital surplus through commercial production in H2 2029
Expert Statements
Sean Roosen, Chairman and CEO of Osisko Gold Group Inc.
“With construction of the Cariboo Gold Project underway following our positive final investment decision earlier this month, the completion of this offering further bolsters our already strong balance sheet position and, together with other available sources of capital, fully funds us through commercial production anticipated in 2029.”
Sean Roosen, Chairman and CEO of Osisko Gold Group Inc.
“Refinancing the existing Appian project finance facility on cost-effective terms lowers our overall cost of capital and provides greater financial flexibility as we progress construction.”
Sean Roosen, Chairman and CEO of Osisko Gold Group Inc.
“The exceptional support from leading institutional investors underscores the quality of the Cariboo Gold Project, our development strategy and management's ability to deliver.”
Sean Roosen, Chairman and CEO of Osisko Gold Group Inc.
“Our focus remains on disciplined project execution while concurrently advancing exploration programs aimed at unlocking the vast exploration potential of the Project and its broader regional land package.”
TORONTO, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Osisko Gold Group Inc. (NYSE: OGG, TSXV: OGG) ("Osisko Gold" or the "Company") is pleased to announce that it has completed its previously announced offering of US$600 million aggregate principal amount of 9.250% senior secured notes due 2031 (the "Notes"). The Notes will mature on October 1, 2031, and are non-callable for the first two years, and will pay interest semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2027.
The Notes offering was completed on a private placement basis to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act") and outside of the United States pursuant to Regulation S under the Securities Act (the "Offering").
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