Resources giant Noranda (TSE) has given notice to the Ontario Securities Commission and the U.S. Securities and Exchange Commission in Washington, D.C., that it may issue new debt during the next two years worth up to US $500 million.
A preliminary short form shelf prospectus has been filed by the Toronto-based mining, forestry and manufacturing company with the regulatory authorities under the multi-jurisdictional disclosure system established between Canada and the U.S.
Noranda’s debt load currently stands at $1.1 billion. The total outstanding debt for Noranda and its subsidiaries, on a consolidated basis, stands at $4.6 million.
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