Goldcorp prices $1.5 billion debt offering

March 13 Wed Mar 13, 2013 10:00pm GMT

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March 13 (Reuters) - Goldcorp Inc, Canada's second-largest gold mining company, priced a $1.50 billion offering of senior unsecured notes on Wednesday.

The company said it would use some of the proceeds to repay $862.5 million in convertible notes set to mature in August 2014. The rest will be used for capital expenditures, capital investments or working capital.

The offering includes $500 million in 2.125 percent notes due in 2018, and $1.0 billion in 3.70 percent notes due in 2023.

Goldcorp, which touts itself as a growth leader, is building three new mines and plans to boost annual gold output by some 75 percent to up to 4.2 million ounces by 2017.

In contrast, many of the company's peers are shying away from building new mines as soaring development costs and a slipping bullion price make once-promising projects far less attractive.

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