Gran Colombia to raise 75 Million US dollars through silver-linked notes

摘要

Vancouver - Gran Colombia Gold (gcm-t) is looking to issue US$75 million of what executive co-chairman Serafino Iacono calls "a creative and innovative financial instrument." The Toronto-based gold-silver miner with operations in Colombia is offering up to 75,000 senior unsecured notes with a face value of $1,000 each. The notes are payable semi-annually over seven years and bear 5% interest per year. Holders will also have the option to receive the financial equivalent of 66.7 oz. silver per note based on a silver price of US$15 per oz., making the debt essentially double as a call option on silver.