Endeavour Silver completes $350 million convertible debt offering

Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) closed its offering of $350 million aggregate principal amount of 0.25% unsecured convertible senior notes due 2031, the company announced. The offering included the full exercise of a $50 million option granted to initial purchasers.

The notes carry an initial conversion rate of 80.2890 common shares per $1,000 principal amount, equivalent to an initial conversion price of approximately $12.46 per share.

The company plans to use net proceeds to repay its senior secured debt facility with ING Capital LLC and Societe Generale, fund advancement of its Pitarrilla project in Durango State, Mexico, and support general corporate purposes including strategic opportunities.

The notes were offered exclusively to qualified institutional buyers in the United States and outside the U.S. in accordance with Regulation S under the Securities Act. The securities were not registered under the U.S. Securities Act of 1933 or any state securities laws, nor qualified by prospectus in Canada.

Endeavour Silver operates four mines in Mexico and Peru, with exploration projects across Mexico, Chile, and the United States. The company describes itself as a mid-tier silver producer working toward becoming a senior silver producer.

The information was disclosed in a company press release.

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