Jaguar Mining completes US$320 million recapitalization and financing transaction

On April 22, 2014, Jaguar Mining Inc. (“Jaguar”), a publicly-listed junior resource company, completed a US$320 million recapitalization and financing transaction implemented through a plan of compromise and arrangement under the Companies’ Creditors Arrangement Act.

The transaction included an exchange of US$268.5 million in principal value of convertible notes for new equity, a US$50 million backstopped common share offering, and certain amendments to Jaguar’s senior secured credit facility.

Jaguar is a junior gold producer in Brazil with operations in the state of Minas Gerais and owns the Gurupi Project in Northeastern Brazil. Jaguar also owns additional mineral resources in Brazil.

Norton Rose Fulbright Canada LLP acted for Jaguar with a team that included Walied Soliman, Paul Fitzgerald, Heidi Reinhart, (Corporate/Securities), Nicole Sigouin (Debt Financing), Orestes Pasparakis and Evan Cobb (Insolvency/Restructuring) and Barry Segal (Tax).