Kinross Gold Corporation completes US$250M offering

On March 4, 2016, Kinross Gold Corporation completed a bought deal public offering of 83,400,000 common shares at a price of US$3.00 per common share for gross proceeds of US$250,200,000.

On March 18, 2016, the underwriters fully exercised their over-allotment option to purchase an additional 12,510,000 common shares, increasing gross proceeds by an additional US$37,530,000 resulting in total gross proceeds from the offering of US$287,730,000.

The offering was conducted concurrently in Canada and the US pursuant to the multijurisdictional disclosure system by a syndicate that was led by TD Securities Inc. and Scotia Capital Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., GMP Securities L.P., RBC Dominion Securities Inc., Merrill Lynch Canada Inc., Canaccord Genuity Corp., Credit Suisse Securities (Canada), Inc., HSBC Securities (Canada) Inc., J.P. Morgan Securities Canada Inc., Morgan Stanley Canada Limited, Citigroup Global Markets Canada Inc., and National Bank Financial Inc.

Kinross Gold Corporation was represented by Geoffrey Gold, Executive Vice-President, Corporate Development, External Relations and Chief Legal Officer, Nicholas Hayduk, Senior Vice-President & General Counsel, and Luke Crosby, Legal Counsel, and assisted in Canada by Osler, Hoskin & Harcourt LLP with a team that included Mary Abbott, Tara Law, Robert Anton and Daniel Fombonne (corporate). Sullivan & Cromwell LLP acted as US counsel to Kinross with a team that included Robert DeLaMater, Brian Farber and Megan Colville (corporate).

The underwriters were assisted in Canada by a team from Blake, Cassels & Graydon LLP including Jeffrey Lloyd, Markus Viirland, Jacob Gofman and Eric Richmond (securities). Shearman & Sterling LLP acted as US counsel to the underwriters with a team that included Jason Lehner, Kevin Roggow, Heather Pals and Joanna Enns (corporate and capital markets).