Artemis prices notes of $450-million offering at 5.62%

Executive Summary

• Artemis Gold Inc. has priced a $450 million private placement of 5-year senior unsecured notes due 2031 to refinance its existing revolving credit facility.
• The offering carries a 5.625% annual interest rate with a standard two-year non-call period and was significantly oversubscribed, with investor demand reaching approximately $1.6 billion.
• Net proceeds will be used to pay down the outstanding RCF balance and cover bond-issuance transaction expenses, strategically reducing variable interest rate exposure and supporting future growth plans.

Key Details

• Principal Amount & Structure: $450 million aggregate principal amount of senior unsecured notes due 2031, issued at par under a trust indenture.
• Interest & Call Terms: 5.625% per annum interest rate; includes a standard two-year non-call period.
• Use of Proceeds: Refinance approximately $450 million outstanding under the revolving credit facility (RCF) and pay bond-issuance-related transaction expenses.
• Investor Demand: Combined order book of ~$1.6 billion, resulting in an oversubscription of >3.5x.
• Credit Ratings: B+ by S&P and BB- by Fitch.
• Closing Date: Expected on or about Feb. 3, 2026, subject to customary closing conditions.
• Underwriters & Bookrunners: BMO Capital Markets and RBC Capital Markets (joint active bookrunners); National Bank Capital Markets (joint passive bookrunner).
• Placement & Jurisdiction: Private placement offered in Canada and the US; not registered under securities laws; offered pursuant to applicable prospectus and registration exemptions.
• Strategic Impact: Provides long-term fixed-rate debt capital, reducing exposure to variable interest rate risk and positioning the company to execute previously announced growth plans.