Mineral Resources Announced Pricing Of Its US$700 Million Senior Unsecured Notes

  • Apr 15, 2019 AEST
  • Team Kalkine
Mineral Resources Announced Pricing Of Its US$700 Million Senior Unsecured Notes

Perth-based leading mining services provider, Mineral Resources Limited (ASX: MIN) has announced the pricing of its US$700 million 8.125% Senior Unsecured Notes due 2027.

Earlier on 8 April 2019, the company had announced that it is planning to offer up to an aggregate principal amount of US$750 million Senior Unsecured Notes which will be offered only to persons who are believed to be qualified institutional buyers as per Rule 144A under the United States Securities Act of 1933. The Notes will pay interest on 1 May and 1 November each year, starting from 1 November 2019, at a rate of 8.125 percent per annum.

It is expected that the settlement of the offering of the Notes will occur in New York on April 23, 2019, subject to customary closing conditions. The company will use the cash proceeds from the offering to refinance certain of its existing credit facilities and for general corporate purposes.

In the recent past, the company had spent across a number of strategically important projects. And it will continue to make investments in the second half of FY19 as the Company completes major projects at Wodgina and Mt Marion. During the six months to 31 December 2018, the company reported capital expenditure of $494 million which was 598% higher than the previous corresponding period.

On 21 February 2019, the company announced its financial results for the half year ended 31 December 2018 (H1 FY19) in which it informed that its H1 FY19 EBITDA is broadly in line with its guidance, with EBITDA of $72 Mn after an unrealised accounting loss in relation to the Group’s investment in Pilbara Minerals Limited of $30 Mn.

During the 6 months to 31 December 2018, the company executed a transaction with Albemarle Corporation to sell 50 percent of the Wodgina Lithium Project for US$1.15 billion and, upon completion, establish a 50:50 joint venture. During the half year period, the company spent around $400 million on the construction of lithium mining and processing facilities at Mt Marion and Wodgina. During the period, the company also completed the acquisition of the Koolyanobbing Iron Ore Project which is enabling operations in the Yilgarn region to continue.

The company had recently completed the purchase of additional equity in the Mt Marion Lithium Project in WA’s Goldfields in accordance of its strategy of identifying value-adding opportunities in the lithium sector.

Now, let’s have a quick glance at the company’s stock performance and the return it has posted over the past few months. At the time of writing, i.e., on 15 April 2019 AEST 12:17 PM, the stock of the company was trading at a price of A$16.690, up 0.3% during the day’s trade with the market capitalisation of ~A$3.13 Bn. In the past six months, the share price of the company increased by 6.94 percent as on 12 April 2019. It has 52 weeks high of $20.700 and 52 weeks low of 12.390 with an Average volume of ~1,423,932.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK