High-yield debt markets got a lot tighter for mining companies last week, forcing them to accept...


High-yield debt markets got a lot tighter for mining companies last week, forcing them to accept more expensive terms on their offerings or walk away. Eldorado Gold (EGO) chose the latter option Friday, pulling a proposed $500M offering of senior notes; Thompson Creek Metals (TC), needing the money, went ahead with a $350M offering of five-year notes carrying a 9.75% coupon.

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    ELD is not that desperate for cash, so a very prudent move on managements part for walking away.
    19 Nov 2012, 02:21 PM Reply Like
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