By Devika Patel
Knoxville, Tenn., Oct. 27 – Nordic Mining ASA said subsidiary Nordic Rutile AS sold $100 million of 12½% five-year senior secured bonds at an issue price of 90 in a private placement.
Clarksons Securities AS and SpareBank 1 Markets AS were the managers.
“The issue was well subscribed by domestic and international quality investors such as pension funds, long-only credit funds, hedge funds and family offices,” the company stated in a Thursday press release.
Proceeds will be used for development of the Engebo Rutile and Garnet Project.
Nordic is an Oslo, Norway-based mining company.
Issuer: | Nordic Rutile AS
|
Issue: | Senior secured bonds
|
Amount: | $100 million
|
Maturity: | Five years
|
Coupon: | 12½%
|
Price: | 90
|
Managers: | Clarksons Securities AS and SpareBank 1 Markets AS
|
Announcement date: | Oct. 27
|
Settlement date: | Nov. 9
|
Distribution: | Private placement
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.