Wednesday, February 9, 2011

Jaguar Mining (NYSE:JAG) Closes $100 Million Senior Notes Offering

Jaguar Mining (NYSE:JAG) announced they've closed on their $99.3 million senior notes offering. The aggregate principal amount was $103.5 million.

Included in the issuance was $13.5 million aggregate principal amount of notes following the full exercise of the over-allotment option granted by Jaguar to the original purchasers.

The 5.5% senior convertible notes will be due 2016. Net capital raised from the issuance will be close to $99.3 million.

Jaguar said the majority of the funds will be used to capitalize their Gurupi Project, as well as for general purposes and working capital.

Jaguar was trading in New York at $5.32, down $0.05, or 0.93 percent, as of 2:27 PM EST.

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