McEwen Mining (MUX) said late Tuesday it closed a private offering of 5.25% convertible senior notes due 2030, raising proceeds of $110 million.

The notes will be convertible at an initial rate of $11.25 per share.

The company plans to use $15.1 million of the net proceeds to fund certain capped call transactions, $20 million for debt repayments, and the remainder for general corporate purposes.