UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): March 7, 2014
Coeur Mining, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE | 1-8641 | 82-0109423 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(IRS Employer Identification No.) |
104 S. Michigan Ave.
Suite 900
Chicago, Illinois 60603
(Address of Principal Executive Offices)
(312) 489-5800
(Registrants telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2 below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. | Other Events. |
Notes Offering
On March 7, 2014, Coeur Mining, Inc. (the Company or Coeur) issued a press release (the Launch Press Release) announcing its intention to offer (the Offering), subject to market and other conditions, $150 million aggregate principal amount of Senior Notes due 2021 (the Offered Notes) in a transaction exempt from registration under the Securities Act of 1933, as amended (the Securities Act). The Offered Notes constitute a further issuance of Coeurs $300,000,000 outstanding principal amount of 7.875% Senior Notes due 2021 issued on January 29, 2013 (the Existing Notes) and when issued, will form a single series of debt securities with the Existing Notes. The Offered Notes have not been registered under the Securities Act or any state securities laws and will not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. A copy of the Launch Press Release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
On March 7, 2014, the Company issued a press release (the Pricing Press Release) announcing the pricing of an offering of $150 million aggregate principal amount of the Offered Notes bearing an interest rate of 7.875%. The Offering is expected to close on March 12, 2014, subject to certain closing conditions. The Offered Notes constitute a further issuance of the Existing Notes and form a single series of debt securities with the Existing Notes. A copy of the Pricing Press Release is attached hereto as Exhibit 99.2 and incorporated herein by reference.
Cautionary Note Regarding Forward-Looking Statements
The information contained in this Current Report on Form 8-K and the exhibits attached hereto contain forward-looking statements within the meaning of securities legislation in the United States and Canada, including, among others, (i) Coeurs intention to offer the Offered Notes, subject to market and other conditions and (ii) Coeurs intention to use the proceeds of the Offering for general corporate purposes.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeurs actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, the uncertainties inherent in Coeurs production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground conditions, grade variability, any future labor disputes or work stoppages, the uncertainties inherent in the estimation of gold and silver ore reserves and future production, changes that could result from Coeurs future acquisition of new mining properties or businesses, reliance on third parties to operate certain mines where Coeur owns silver production and reserves and the absence of control over mining operations in which Coeur or its subsidiaries hold royalty or streaming interests and risks related to these mining operations including results of mining and exploration activities, environmental, economic and political risks of the jurisdiction in which the mining operations are located, the loss of any third-party smelter to which Coeur markets silver and gold, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeurs ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeurs most recent report on Form 10-K. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.
Item 9.01. | Financial Statements and Exhibits. |
(d) List of Exhibits
Exhibit No. |
Description | |
Exhibit 99.1 | Launch Press Release dated March 7, 2014 | |
Exhibit 99.2 | Pricing Press Release dated March 7, 2014 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
COEUR MINING, INC. | ||||||
Date: March 7, 2014 | By: | /s/ Peter C. Mitchell | ||||
Name: Title: |
Peter C. Mitchell Title: Senior Vice President and Chief Financial Officer |
Exhibit Index
Exhibit No. |
Description | |
Exhibit 99.1 | Launch Press Release dated March 7, 2014 | |
Exhibit 99.2 | Pricing Press Release dated March 7, 2014 |
Exhibit 99.1
NEWS RELEASE
Coeur to Offer Senior Notes
CHICAGO, IL. March 7, 2014 Coeur Mining, Inc. (the Company or Coeur) (NYSE: CDE) today announced its intention to offer (the Offering), subject to market and other conditions, $150,000,000 of 7.875% Senior Notes due 2021 (the Offered Notes). The Offered Notes constitute a further issuance of Coeurs $300,000,000 outstanding principal amount of 7.875% Senior Notes due 2021 issued on January 29, 2013 (the Existing Notes) and, when issued, will form a single series of debt securities with the Existing Notes. Other than with respect to the date of issuance, issue price, and CUSIP number, the Offered Notes will have the same terms as the Existing Notes. Once the Offered Notes are registered and exchanged for exchange notes, Coeur expects that the Offered Notes and the Existing Notes will share a single CUSIP number and thereafter be fungible.
The Offered Notes will be fully and unconditionally guaranteed by certain of the Companys subsidiaries. The Company intends to use the net proceeds from the Offering for general corporate purposes.
Barclays Capital Inc. is acting as sole book-running manager for the Offering.
The Offered Notes will only be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the Securities Act).
The Offered Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This news release shall not constitute an offer to sell or a solicitation of an offer to purchase the Offered Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This news release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including, among others, (i) Coeurs intention to offer the Offered Notes, subject to market and other conditions and (ii) Coeurs intention to use the proceeds of the Offering for general corporate purposes.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeurs actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, the uncertainties inherent in Coeurs production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground conditions, grade variability, any future labor disputes or work stoppages, the uncertainties inherent in the estimation of gold and silver ore reserves and future production, changes that could result from Coeurs future acquisition of new mining properties or businesses, reliance on third parties to operate certain mines where Coeur owns silver production and reserves and the absence of control over mining operations in which Coeur or its subsidiaries hold royalty or streaming interests and risks related to these mining operations including results of mining and exploration activities, environmental, economic and political risks of the jurisdiction in which the mining operations are located, the loss of any third-party smelter to which Coeur markets silver and gold, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeurs ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeurs most recent report on Form 10-K. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.
For more information, please contact:
Bridget Freas, Director, Investor Relations
(312) 489-5819
Donna Mirandola, Director, Corporate Communications
(312) 489-5842
2
Exhibit 99.2
NEWS RELEASE
Coeur Prices Offering of Senior Notes
CHICAGO, IL. March 7, 2014 Coeur Mining, Inc. (the Company or Coeur) (NYSE: CDE) today announced the pricing of its offering (the Offering) of $150,000,000 of 7.875% Senior Notes due 2021 (the Offered Notes) to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the Securities Act). The coupon on the Offered Notes will be 7.875% per year from the date of issuance, payable semi-annually in arrears. The Offered Notes will mature on February 1, 2021. The transaction is expected to close on or about March 12, 2014, subject to the satisfaction of various customary closing conditions. The Offered Notes constitute a further issuance of Coeurs $300,000,000 outstanding principal amount of 7.875% Senior Notes due 2021 issued on January 29, 2013 (the Existing Notes) and when issued, will form a single series of debt securities with the Existing Notes. Other than with respect to the date of issuance, issue price, and CUSIP number, the Offered Notes will have the same terms as the Existing Notes. Once the Offered Notes are registered and exchanged for exchange notes, Coeur expects that the Offered Notes and the Existing Notes will share a single CUSIP number and thereafter be fungible.
The Offered Notes will be fully and unconditionally guaranteed by certain of the Companys subsidiaries. The Company intends to use the net proceeds from the Offering for general corporate purposes.
The Offered Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This news release shall not constitute an offer to sell or a solicitation of an offer to purchase the Offered Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This news release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including, among others, (i) Coeurs intention to offer the Offered Notes, subject to market and other conditions and (ii) Coeurs intention to use the proceeds of the Offering for general corporate purposes.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeurs actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, the uncertainties inherent in Coeurs production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground conditions, grade variability, any future labor disputes or work stoppages, the uncertainties inherent in the estimation of gold and silver ore reserves and future production, changes that could result from Coeurs future acquisition of new mining properties or businesses, reliance on third parties to operate certain mines where Coeur owns silver production and reserves and the absence of control over mining operations in which Coeur or its subsidiaries hold royalty or streaming interests and risks related to these mining operations including results of mining and exploration activities, environmental, economic and political risks of the jurisdiction in which the mining operations are located, the loss of any third-party smelter to which Coeur markets silver and gold, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeurs ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeurs most recent report on Form 10-K. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.
For more information, please contact:
Bridget Freas, Director, Investor Relations
(312) 489-5819
Donna Mirandola, Director, Corporate Communications
(312) 489-5842
2