Mineral Resources prices US$700 Million Senior Unsecured Notes Offering

Company News

by Anna Napoli

Mining services provider, Mineral Resources (ASX:MIN) has today announced the pricing of its US$700 million 8.125 per cent Senior Unsecured Notes due 2027.

The Company intends to use the proceeds from the offering to refinance some of its existing credit facilities and for general corporate purposes.

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 cent per annum.

Last month the company announced that it had purchased an additional equity in the Mt Marion Lithium Project in WA’s Goldfields.

Mineral Resources and Ganfeng Lithium inked a deal to jointly and equally acquire Neometals’ 13.8 per cent equity interest in Mt Marion for A$103.8 milion.

Mineral Resources' subsidiary, Process Minerals International has now increased its equity interest in Mt Marion from 43.1 per cent to 50 per cent.

Shares in Mineral Resources (ASX:MIN) closed 0.60 per cent lower at $16.64 on Friday.