PLS Group Limited (ASX: PLS) today announced its intention to offer, subject to market and other conditions, up to an aggregate principal amount of US$700 million Senior Unsecured Notes due 2032. PLS is a leading global producer of lithium materials, with a diversified portfolio of assets and strategic partnerships in the rapidly growing battery materials sector. The company owns 100% of the Pilgangoora Operation in Australia and the Colina Lithium Project in Brazil, and is integrated into the lithium value chain through a joint venture with POSCO in South Korea.
The Notes will be offered only 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 reliance on Regulation S under the Securities Act. PLS intends to utilise the net proceeds from this offering for general corporate purposes, including but not limited to, capital expenditure and/or other growth opportunities. The Notes will be guaranteed by certain wholly-owned subsidiaries of PLS.
The company clarified that this announcement does not constitute an offer to sell, or the solicitation of any offer to buy, the Notes or any other securities. Any offer of the Notes will be made only by means of a private offering memorandum. The Notes are not being registered under the Securities Act nor the securities laws of Australia nor any other jurisdiction, and may not be offered nor sold in the United States without registration under the Securities Act or an applicable exemption from such registration requirements. The release was authorised by Dale Henderson, PLS Managing Director and CEO.
