First Majestic Completes US$350 Million Offering of Convertible Senior Notes

Core Viewpoint - First Majestic Silver Corp. has successfully closed an offering of US$300 million in unsecured convertible senior notes, with an additional US$50 million from an over-allotment option, aimed at refinancing existing debt and supporting corporate strategies [1][2]. Group 1: Offering Details - The offering consists of US$300 million aggregate principal amount of 0.125% unsecured convertible senior notes due in 2031 [1]. - The initial conversion rate for the notes is set at 44.7227 common shares per US$1,000 principal amount, translating to an initial conversion price of approximately US$22.36 per share [1]. Group 2: Use of Proceeds - Approximately US$174.7 million of the proceeds will be used to repurchase existing 0.375% convertible senior notes due in 2027, with a total payment of about US$214.7 million [2]. - The remaining net proceeds from the offering will be allocated for general corporate purposes, including potential strategic opportunities [2]. Group 3: Company Overview - First Majestic is a publicly traded mining company focused on silver and gold production, operating four underground mines in Mexico and holding a portfolio of development and exploration assets, including the Jerritt Canyon Gold project in Nevada, U.S.A. [5].