My Market Wizard

New Gold Inc. /FI 6-K Analysis & Summary – 3/14/2025

⚠️This is not investment advice.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️

New Gold Inc.
,

Filing date:

03/14/2025

TLDR:

New Gold Inc. announced an offering of US$400 million in senior notes due 2032 and a tender offer to purchase its outstanding 2027 senior notes.

ELI5:

New Gold is borrowing $400 million by selling new bonds that mature in 2032. They’re using this money to buy back some of their older bonds maturing in 2027 and will pay off any remaining old bonds soon after, assuming the new bond sale goes through.

Accession #:

0001279569-25-000269

Published on

Analyst Summary

  • New Gold is offering US$400 million aggregate principal amount of senior notes due 2032 with an interest rate of 6.875%.
  • The company is commencing a tender offer to purchase any and all of its outstanding US$400 million aggregate principal amount of 7.50% senior notes due 2027.
  • New Gold intends to redeem any 2027 Senior Notes not tendered in the Tender Offer on or about July 15, 2025.
  • The net proceeds from the Offering, along with cash on hand, will be used to fund the Tender Offer and Redemption, and to pay related fees and expenses.
  • The offering is expected to close on March 18, 2025, subject to customary closing conditions.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️