Petra Diamonds increases note issue to $650m; priced at 7.25%
Petra Diamonds Ltd.(DI)
29.20p
17:15 27/09/24
6.57%
1.80p
Petra Diamonds said it had increased its offering of senior secured notes to $650m, adding that they had been priced at 7.25%.
FTSE 250
21,240.56
17:09 27/09/24
n/a
n/a
FTSE 350
4,599.36
17:10 27/09/24
n/a
n/a
FTSE All-Share
4,555.44
17:04 27/09/24
n/a
n/a
Mining
11,656.57
17:04 27/09/24
-2.99%
-358.93
Interest will be paid semi-annually in arrears and closing is expected to take place on or about 12 April 2017, Petra said. The initial offering was $600m.
Net proceeds from the notes will be used to refinance the company's existing $300m 8.25% senior secured second lien notes due in 2020, to repay amounts outstanding under certain of the existing senior facilities and for general corporate purposes.