Mineral Resources (ASX: MIN) announced the pricing on 12 April of its US$700 million 8.125% Senior Unsecured Notes due 2027 in an offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended, and to certain persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.
Mineral Resources (ASX: MIN) announced the pricing on 12 April of its US$700 million 8.125% Senior Unsecured Notes due 2027 in an offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended, and to certain persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.
The settlement of the offering of the Notes is expected to occur in New York on April 23, 2019, subject to customary closing conditions.
The Company intends to use the net cash proceeds from the offering to refinance certain of the Company’s existing credit facilities and for general corporate purposes (including capital expenditures).
The Notes will pay interest on 1 May and 1 November each year, commencing on 1 November 2019, at a rate of 8.125% per annum. The Notes will be guaranteed by certain wholly-owned subsidiaries of MRL.
