Business
Purchase of C$100 million of Gold Wheaton Senior Secured Notes
Dec. 31, 2010 (Canada NewsWire Group) -- TORONTO, Dec. 31 /CNW/ - Franco-Nevada Corporation (...
About this update from Franco-nevada Corporation
[{"type":"text","content":"\n\n\n\n Dec. 31, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Dec. 31 /CNW/ - Franco-Nevada Corporation (TSX: FNV)\n ("Franco-Nevada") announced today that it has purchased 10% Senior\n Secured Notes of Gold Wheaton Gold Corp. (TSX: GLW) ("Gold Wheaton")\n from Sprott Asset Management LP for and on behalf of certain funds and\n from SAMGENPAR Ltd. with an aggregate face value of C$100 million. The\n notes were purchased for C$110 million plus accrued interest.  The\n purchase price is equal to the price at which the holder has the right\n to call the notes in the event of a change of control of Gold Wheaton. \n Two series of notes were purchased by Franco-Nevada:  C$50 million face\n value of Series 1 notes due May 26, 2014 and C$50 million face value of\n Series 2 notes due November 26, 2014.  The interest rate on both series\n is 10% per annum. Gold Wheaton has a further C$7 million notes\n outstanding under the same note indenture which are held by third\n parties.  Gold Wheaton has consented to the purchase of the notes by\n Franco-Nevada.\n\n\nAbout Franco-Nevada\n\n\nFranco-Nevada Corporation (TSX: FNV) is a gold-focused royalty company\n with additional interests in platinum group metals, oil and gas and\n other assets. Its portfolio of high-margin cash flow producing assets\n is located principally in the United States, Canada and Mexico. The\n Company also holds a pipeline of potential future cash flowing assets...