Thanks for the info DOUBLE D,
It's good to hear, it couldn't be done. Just wondered if it was possible. thanks-mike
I'll have my head full trying to figure out this stuff for the week.
Maybe during the quiet period next Sunday, I can come back and agree 100%. Meanwhile, i'll puzzle away at who got what.
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Barrick Gold Corporation -=anuary 20, 1998
TrizecHahn Is Selling Unencumbered Interest In Barrick Gold
TRIZEC HAHN CORP ("TZH-TMBDNPQX")
BARRICK GOLD CORP. ("ABX-TMBHDNPQX")
- TrizecHahn Is Selling Unencumbered Interest In Barrick Gold
TrizecHahn Corporation announced it is selling its entire unencumbered interst in common shares of Barrick Gold Corporation (28,166,026 shares) on a bought deal basis for a total consideration of approximately US $516.9 million (Cdn. $743.6 million). The shares are being sold to the public through a group of underwriters led by RBC Dominion Securities Inc. and Nesbitt Bruns Inc. who will offer these shares on an instalment basis. TrizecHahn is selling the shares for C$ 26.40 per share with Cdn $15.80 (approximately 60%) payable on the closing of the offering and the balance payable in one year. Until final payment, the shares will be represented by instalemnt receipts. Of these shares, up to 6,000,000 may be offered on a fully paid basis at a price of C$25.85 per shares. The offering is expected to close in early February. The sale of the unencumbered Barrick shares will not have any effect on the 30.27 million Barrick shares pledged by TrizecHahn under the terms of its US $875 million of exchangeable debentures. "The sale of the Barrick shares is consistent with TrizecHahn's stated strategy of converting non-real estate assets into cash for further investment into our core business, and follows our successful sale of Clark USA in November of 1997." said Gregory C. Wilkins, President and Chief Operating Officer. "With this transaction, TrizecHahn becomes a pure real estate company with the resources to continue to invest in quality real estate assets at attractive returns."
Over the last 12 months, TrizecHahn has announced purchases of more than US$2.1 billion of real estate assets in both Canada and the U.S.
TrizecHahn is a major integrated real estate operating company with ownership interest in 78 properties comprising 63 million square feet. It owns, develops and manages office buildings and regional retail centers in the United States, Canada and Europe.
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Barrick Gold Corporation
ABX pril 22, 1997
Signs an Agreement for US$500-Million Debenture Issue
Barrick Gold Corporation and its subsidiary Barrick Gold Finance Inc. announced today that they have signed an agreement providing for the sale of US$500 million of non-convertible, guaranteed Debentures to a group of underwriters.
The Debentures will be issued by Barrick Gold Finance Inc. and will be fully and unconditionally guaranteed by Barrick Gold Corporation. The Debentures will bear interest at 7.5% per annum, payable semi-annually, and will mature on May 1, 2007 unless earlier redeemed by Barrick Gold Finance Inc.
Closing of the sale of the debentures is expected to take place on April 25, 1997.
Proceeds of the offer will be used to repay existing debt of Barrick Gold Corporation under its revolving bank credit facility.
The underwriting group is led by Goldman, Sachs & Co. and includes Merrill Lynch & Co., J. P. Morgan & Co. and Salomon Brothers Inc.
Barrick Gold Corporation is a major international gold producer with 10 producing mines in the United States, Canada and Chile and two mines coming on stream by the year 2000.
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November 6, 1998
Peter Munk Transfers Shares
BARRICK GOLD CORP ("ABX-TMBHDNPQX")
- Peter Munk Transfers Shares
The Chairman of Barrick Gold Corporation, Mr. Peter Munk, has filed an insider report with the Ontario Securities Commission outlining the transfer of two million Barrick shares to two of his controlled entities. One million shares have been transferred to Mr. Munk's personal holding company, P.M. Capital Inc., for financial planning reasons. One million shares have been transferred to The Peter Munk Charitable Foundation. He controls both P.M. Capital Inc. and the philanthropic foundation.
In additional to these shares, he holds options to acquire a further 2,250,000 Barrick shares.
Peter Munk also has an indirect interest in Barrick through TrizecHahn Corporation's holding of 30,299,558 shares of Barrick. The founder of both corporations, Mr. Munk holds majority-voting control of TrizecHahn, Barrick's largest shareholder
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Trizec Hahn Corporation Exchangeable Debentures In Bought Deal Financing Cash Proceeds To Be Used To Complete Redemption of All Outstanding 3 1/4% Exchangeable Debentures
TRIZECHAHN CORP ("TZH-TMDNPQX")
- To Issue Exchangeable Debentures In Bought Deal Financing
- Cash Proceeds To Be Used To Complete Redemption of All Outstanding
- 3 1/4% Exchangeable Debentures
TrizecHahn Corporation announced that it has signed a bought deal underwriting agreement with RBC Dominion Securities Inc. providing for the sale of $204.4 million principal amount of a new series of debentures exchangeable for common shares of Barrick Gold Corporation. The private placement offering is expected to close March 17, 1999. The new debentures mature March 17, 2024 and otherwise contain the same terms and conditions as the exchangeable debenture financing that was announced yesterday.
The proceeds from the offering will be used to redeem for cash the remaining $300 million (50%) of TrizecHahn's outstanding $600 million aggregate principal amount of 3 1/4% debentures, maturing December 10, 2018, exchangeable for Barrick common shares. A notice of redemption will be issued later this day and the redemption date will be April 26, 1999.
The two new series of exchangeable debentures will have an aggregate principal amount of approximately $409 million, $191 million (32%) less than that of the 3 1/4% debentures, and a current interest rate of about 2.30%. The combined effect of the refinancings is to reduce TrizecHahn's net interest expense by approximately $11 million per annum.
Both new series of debentures will bear interest at an annual rate based on the dividend on the underlying common shares of Barrick Gold plus 1.35% and will be exchangeable, at the option of the holder, into common shares of Barrick Gold at a fixed exchange rate of 52.4162 per $1,000 of principal amount or, at the option of TrizecHahn, the cash equivalent. TrizecHahn will pledge the common shares of Barrick Gold that previously secured the 3 1/4% debentures to secure its obligations upon any exercise of the holders' exchange right. The debentures will be redeemable at any time by TrizecHahn. Upon redemption, TrizecHahn may, at its option, repay the principal amount by delivering common shares of Barrick Gold based on the fixed exchange rate or the cash equivalent.
The new series of debentures have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
TrizecHahn is a major integrated real estate operating company with ownership interests in 119 properties comprising 65 million square feet. It owns, develops and manages office buildings in the United States, Canada and Europe. The Company also creates retail/entertainment and office projects in North America and Europe. TrizecHahn 3 1/4% debentures, shares and warrants trade on the Toronto and Montreal stock exchanges, and its shares and warrants also trade on the New York stock exchange, under the symbol TZH. For more information about TrizecHahn, visit the TrizecHahn website at www.trizechahn.com.
All amounts in U.S. dollars
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