Coeur d′Alene Mines Corporation (the 'Company? or 'Coeur?) (NYSE: CDE)
(TSX: CDM) today announced that it is offering to repurchase all of its
outstanding 3.25% Convertible Senior Notes due 2028 (the 'Notes?). As of
February 12, 2013, there was $48,658,000 aggregate principal amount of
Notes outstanding.
The Indenture governing the Notes provides the holders of the Notes with
a right to require the Company to purchase their Notes on March 15,
2013. To the extent that holders exercise this put right, the Company
will pay a repurchase price in cash, consisting of 100% of the principal
amount of the Notes repurchased, plus accrued but unpaid interest, up
to, but not including, March 15, 2013.
Holders may exercise their put right by delivery to the Company and the
Paying Agent of a written notice of purchase at any time from the
opening of business on February 13, 2013 until 5:00 p.m. New York City
time on March 14, 2013, stating (i) the certificate number of the Note
which the Holder will deliver to be repurchased, (ii) the portion of the
principal amount of the Note which the Holder will deliver to be
repurchased, which portion must be in a principal amount of $1,000 or an
integral multiple thereof and (iii) that such Note shall be repurchased
as of the Repurchase Date pursuant to the terms and conditions specified
in paragraph 6 of the Notes and in the Indenture, or by delivery or
book-entry transfer of such Notes to the Paying Agent prior to, on or
after the Repurchase Date at the offices of the Paying Agent. Unless the
Company defaults in making payment of the Repurchase Price, interest on
Notes covered by any Repurchase Notice will cease to accrue on and after
the Repurchase Date.
The Notes may be converted during the periods or upon the events
described in the Indenture. Upon a conversion of the Notes, a Holder
would be entitled to receive a cash payment equal to the 'Principal
Portion? (as defined in the Indenture) plus, in certain circumstances,
an amount in excess thereof paid in cash, shares of our common stock or
a combination thereof, at the Company′s election. The type and amount of
consideration a Holder would receive upon conversion of its Notes would
depend on, among other things, the conversion rate applicable at the
time of conversion, the trading prices of the Company′s common stock
during a 20-day trading period beginning on the second business day
following the Holder′s conversion election and whether the Company
elects to settle any excess amount in cash, common stock or a
combination thereof. The conversion rate in effect on February 13, 2013
was 17.6025 shares of common stock per $1,000 principal amount of the
Notes and the conversion price in effect at that time was $56.81 per
share of common stock.
A Repurchase Notice may be withdrawn by means of a written notice of
withdrawal delivered to the office of the Paying Agent in accordance
with the Repurchase Notice at any time prior to 5:00 p.m. on March 14,
2013, specifying (i) the certificate and principal amount of the Note in
respect of which such notice of withdrawal is being submitted and (ii)
the principal amount, if any, of such Note which remains subject to the
original Repurchase Notice and which has been or will be delivered for
purchase by the Company.
The Repurchase Price for any Notes as to which a Repurchase Notice has
been given and not withdrawn shall be paid promptly following the later
of the Repurchase Date and the time of surrender of such Notes.
Notes must be surrendered to the Paying Agent to collect payment of the
Repurchase Price and accrued but unpaid interest. The Bank of New York
Mellon, as Paying Agent, can be contacted at:
