Canada's Centerra Gold to buy Thompson Creek Metals for $1.1 bln

Tue Jul 5, 2016 3:58pm EDT
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July 5 (Reuters) - Canadian miner Centerra Gold agreed on Tuesday to buy Thompson Creek Metals, a U.S.-based miner bowed by nearly $900 million in debt, and pay its creditors, in a deal worth around $1.1 billion, the two companies said.

Centerra, a miner whose main gold mine is in Kyrgyzstan, said it would also raise C$170 million ($130.76 million) in a bought deal, which it would use to partly pay out the secured and unsecured noteholders of Thompson Creek. ($1 = 1.3001 Canadian dollars) (Reporting by Nicole Mordant in Vancouver; Editing by Chris Reese)