04:29 PM EST, 01/22/2025 (MT Newswires) -- B2Gold ( BTG ) was last seen down 8.3% in after-hours New York trading after the company after trade Wednesday said it is raising US$350 million in an offering of convertible senior unsecured notes due 2030.

The company said the interest rate on the securities and the conversion price will be set at the time of the offering.

The company expects to grant the initial buyers of the notes a US$52.5-million over-allotment option.

B2 said it will use proceeds to pay down its revolving credit facility and then subsequently use future draws on the revolving credit facility to fund such working capital requirements and for general corporate purposes.

The company's shares were last seen down US$0.20 to US$2.20 after hours. They closed down $0.01 to $3.47 on the Toronto Stock Exchange.