Gran Colombia Prints Silver-Linked Notes

Gran Colombia Prints Silver-Linked Notes

Colombia Bonds Structured Finance Canada

Gold producer Gran Colombia Gold has placed $80m of 7-year silver-linked notes at par with a 5.0% interest rate. Investors will receive on a pro-rata basis either the $1,000 principal amount per note or the US dollar equivalent to about 66.7 ounces of silver per note, whichever is greater. The company says it is hedged against silver prices as it produces the metal as a by-product at its gold mining operations and it also has developed significant silver resources at its Marmato project in Colom

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