March 22, 2010 (FinancialWire) — Agnico-Eagle Mines (NYSE: AEM) is planning a private placement of an aggregate of $600 million of guaranteed senior unsecured notes due 2017, 2020 and 2022 with a weighted average maturity of 9.84 years and weighted average yield of 6.59%.

The company said it has received non-binding commitments from institutional investors in the United States and Canada to purchase the notes.

Agnico-Eagle said it will use the net proceeds from the sale to reduce amounts outstanding under the company's credit lines. The company said it expects that the transaction to close in April 2010.

Canada-based Agnico-Eagle is a gold producer with operations located in Canada, Finland and Mexico, and exploration and development activities in Canada, Finland, Mexico and the United States.

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