03:45 PM EDT, 04/09/2024 (MT Newswires) -- Taseko Mines Limited ( TGB ) was at last look up 3% as it announced late Tuesday afternoon that it has priced an offering of US$500 million aggregate principal amount of Senior Secured Notes due 2030.

A statement noted interest on the notes will accrue at an annual rate of 8.25% payable semi-annually, and the notes will be issued at par. The offering is expected to close on April 23, 2024, subject to customary closing conditions.

Taseko intends to use the net proceeds from this offering, together with cash on hand, to redeem all US$400 million aggregate principal amount outstanding of its Senior Secured Notes due 2026 (including accrued interest), to make capital expenditures, including at its Florence Copper project and Gibraltar mine, as working capital and the remainder, if any, for general corporate purposes and to pay fees and expenses in connection with this offering.

Price: 3.42, Change: +0.10, Percent Change: +3.01