Article Image
News Link • Currencies

American Barrick Issues $1.25 Billion In Debt To Further Reduce Gold Hedg

• The Golden Truth
 The stock deal was used to extinguish Barrick's $3 billion fixed-price hedges plus some of its floating-price hedge exposure, incurring 10% shareholder equity dilution and a $5.6 billion charge to earnings. 

The bond deal announced tonight, curiously several hours after the stock market had closed for the day, will be used to eliminate part of the $2.7 billion in floating-rate hedges that remained after last month's mammoth stock deal. 

The nature of this latest financing tells me two things

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


Purse.IO Save on All Amazon Purchases