Ivanhoe prices an offering of $750m of senior notes due 2030
TSX-listed Ivanhoe Mines has priced the offering of aggregate principal amount of $750-million of senior notes due 2030.
Ivanhoe says the notes will be senior unsecured obligations of the company and will be guaranteed on a senior basis by certain of the company’s subsidiaries.
The gross proceeds from the offering of the notes will be used for general corporate purposes, including capital expenditure associated with expansion of the company’s projects and to pay certain fees and expenses relating to the offering.
The company says the closing of the offering is subject to customary conditions precedent for similar transactions.
Ivanhoe owns the Kamoa-Kakula copper complex and the Kipushi zinc mine, in the Democratic Republic of Congo, as well as the Platreef platinum group metal-nickel mine, in Limpopo.
As previously reported in Mining Weekly, Ivanhoe was granted 22 195 km2 of greenfield prospecting rights for exploration in the Moxico and Cuando Cubango provinces of Angola.
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