By Lisa Kerner
Charlotte, N.C., Oct. 24 - International Mining and Infrastructure Corp. plc announced it issued a multi-tranche unsecured bond valued at up to $50 million to institutional investors.
The bond carries a semiannual interest rate of 8.125% and matures in October 2014.
International Mining will immediately draw down $10 million to be used for an infrastructure solution at the major Simandou South iron ore project in the Republic of Guinea and to make strategic investments in junior iron ore miners, a company news release said.
Based in London, International Mining targets investments or acquires interests in projects or companies with a focus on mining and related infrastructure.
| Issuer: | International Mining and Infrastructure Corp. plc
|
| Issue: | Multi-tranche bond
|
| Amount: | $50 million
|
| Coupon: | 8.125%
|
| Maturity: | October 2014
|
| Distribution: | Private placement
|
| Announcement date: | Oct. 24
|
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