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UPDATE 1-Silver miner Coeur d'Alene drops note offering
July 3, 2012 / 1:36 PM / 5 years ago

UPDATE 1-Silver miner Coeur d'Alene drops note offering

July 3 (Reuters) - Gold and silver producer Coeur d‘Alene Mines Corp is withdrawing a proposed offering of senior notes because of weak debt markets, the company said on Tuesday.

Coeur’s stock opened up 40 cents at $17.75 on the New York Stock Exchange.

“Weak overall conditions in the debt markets led us to conclude that the proposed offering of senior notes would not be in the best interest of shareholders under the terms currently available,” President and Chief Executive Mitchell Krebs said in a statement.

“We had hoped to opportunistically access the debt markets to augment our already strong balance sheet, but we will only do so in a disciplined manner,” he said.

Idaho-based Coeur operates mines in Bolivia, Mexico, Alaska and Nevada.

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