Toronto-listed Horsham has completed a 25-year debt financing with gross proceeds of US$550 million.
The debentures will carry an interest rate of 3.25% and be indexed to the common share price of associated company American Barrick Resources (TSE). They will be convertible into 32.5 shares of Barrick, in which Horsham holds a controlling interest. Horsham can redeem or exchange the debentures for cash.
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