Silver Standard Resources Inc. (“Silver Standard”) completed a private placement of US$250,000,000 of 2.875 per cent Convertible Senior Notes due 2033 (“Notes”). The offering was conducted by a syndicate of initial purchasers led by Citigroup Global Markets Inc. and BMO Capital Markets Corp. and including Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, GMP Securities L.P., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and UBS Securities LLC.
The Notes bear interest at 2.875 per cent payable semi-annually in arrears and are convertible by holders into Silver Standard's common shares, based on an initial conversion rate of 50 common shares per US$1,000 principal amount of Notes.
Silver Standard intends to use up to approximately US$138 million of the net proceeds from the sale of the Notes to repurchase or redeem its outstanding 4.5 per cent Convertible Senior Notes due 2028 and the remaining net proceeds for general corporate purposes.
Silver Standard was represented in house by Keenan Hohol, Vice President, Legal & General Counsel and Guy Davis, Corporate Counsel, and by a Lawson Lundell LLP team that included Michael Lee, Justin Young, Oliver Loxley, Kyla Schwartz and David Snarch (securities) and Leonard Glass (tax).
Paul, Weiss, Rifkind, Wharton & Garrison LLP's Edwin Maynard, Lawrence Wee, Alexis Fink and Brian Darsow (securities) and David Mayo and Rebecca Freeland (tax) acted as US counsel to Silver Standard.
Blake, Cassels & Graydon LLP acted as Canadian counsel to the initial purchasers, with a team that included Bob Wooder, Kathleen Keilty, Denis Silva, Nathan Kim and David Bowles (securities) and Kevin Zimka (tax).
Skadden, Arps, Slate, Meagher & Flom LLP acted as US counsel to the initial purchasers, with a team that included Riccardo Leofanti (corporate finance and securities); Michael Acedo (corporate); Yossi Vebman (corporate finance); Victor Hollender (tax); Elizabeth Malone(environmental); Michael Ena (corporate finance) and Vittoria Varalli (corporate).
The Notes bear interest at 2.875 per cent payable semi-annually in arrears and are convertible by holders into Silver Standard's common shares, based on an initial conversion rate of 50 common shares per US$1,000 principal amount of Notes.
Silver Standard intends to use up to approximately US$138 million of the net proceeds from the sale of the Notes to repurchase or redeem its outstanding 4.5 per cent Convertible Senior Notes due 2028 and the remaining net proceeds for general corporate purposes.
Silver Standard was represented in house by Keenan Hohol, Vice President, Legal & General Counsel and Guy Davis, Corporate Counsel, and by a Lawson Lundell LLP team that included Michael Lee, Justin Young, Oliver Loxley, Kyla Schwartz and David Snarch (securities) and Leonard Glass (tax).
Paul, Weiss, Rifkind, Wharton & Garrison LLP's Edwin Maynard, Lawrence Wee, Alexis Fink and Brian Darsow (securities) and David Mayo and Rebecca Freeland (tax) acted as US counsel to Silver Standard.
Blake, Cassels & Graydon LLP acted as Canadian counsel to the initial purchasers, with a team that included Bob Wooder, Kathleen Keilty, Denis Silva, Nathan Kim and David Bowles (securities) and Kevin Zimka (tax).
Skadden, Arps, Slate, Meagher & Flom LLP acted as US counsel to the initial purchasers, with a team that included Riccardo Leofanti (corporate finance and securities); Michael Acedo (corporate); Yossi Vebman (corporate finance); Victor Hollender (tax); Elizabeth Malone(environmental); Michael Ena (corporate finance) and Vittoria Varalli (corporate).
Lawyer(s)
Kevin Zimka
Justin D. Young
Edwin S. Maynard
Denis Silva
Leonard A. Glass
Kathleen P. Keilty
Michael L. Lee
Bob J. Wooder
Firm(s)
Lawson Lundell LLP
Paul, Weiss, Rifkind, Wharton & Garrison LLP
Blake, Cassels & Graydon LLP
Skadden, Arps, Slate, Meagher & Flom LLP