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TSX :IMG : 7.19 +0.00 +0% Volume: 1,137,200 August 17, 2017
NYSE :IAG : 5.67 +0.00 +0% Volume: 3,799,410 August 17, 2017
GOLD PRICE: 1,294.85 +6.09 +0.47% Volume: August 18, 2017
fixed-income

Fixed Income Investor Information

Issue date : March 16, 2017

Issue price : US $ 100

Face value at time of issue : US $ 400 million

Coupon : 7.0%

Callable Date : April 15, 2020

Maturity Date : April 15, 2025

Rating : B2 (Moody’s - Mar 7, 2017) and B+ (S&P - Sept 26, 2016)

Rank : Senior Unsecured Notes

On March 16,2017 the Company issued at face value $ 400 million of senior unsecured notes (“Notes”) with an interest rate of 7.0% per annum. The Notes are denominated in U.S. dollars and mature on April 15, 2025. Interest is payable in arrears in equal semi-annual installments on April 5 and October 5.

Except as noted below, the Notes are not redeemable, in whole or part, by the Company until April 15, 2020. On and after April 15, 2020, the Company may redeem the Notes, in whole or in part, at the relevant redemption price (expressed as a percentage of the principal amount of the Notes) and accrued and unpaid interest on the Notes up to the redemption date. The redemption price for the Notes during the 12 month period beginning on April 15 of each of the following years is: 2020 - 105.250%; 2021 - 103.500%; 2022 - 101.750%; and 2023 and thereafter - 100%.

Prior to April 15, 2020, the Company may redeem some or all of the Notes at a price equal to 100% of the principal amount of the Notes plus the Applicable Premium, plus accrued and unpaid interest.

Prior to April 15, 2020, using the cash proceeds from an equity offering the Company may redeem up to 40% of the original aggregate principal amount of the Notes at a redemption price equal to 107.00% of the aggregate principal amount thereof, plus accrued and unpaid interest up to the redemption date.

The Company may from time to time seek to retire or purchase for cash its outstanding debt securities in open market purchases, privately negotiated transactions or otherwise. Such repurchases, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material.

Re-investment requirement under the bond indenture :

Cash proceeds from asset sales must be re-invested in the Company’s business within one year of the closing date of the transaction. This window of investment can be extended an additional six months contingent upon firm capital commitments. A balance of less than $ 50M can be kept. By definition, the amount of re-investment can include planned capital spending or capital applied to mergers and acquisitions. Should the re-investment requirements not be met within the timeframe specified above, IAMGOLD is required to buy back bonds at par in an amount equal to the remaining balance of the proceeds not yet re-invested in the business.

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