By Paul A. Harris
Portland, Ore., July 5 – Tizir Ltd. announced in a Wednesday press release that it has priced $300 million of 9½% senior secured bonds due July 2022.
ABG Sundal Collier ASA and Pareto Securities AS were the joint lead managers and bookrunners.
Proceeds will be used to refinance $275 million of senior secured bonds due September 2017, and for general corporate purposes.
TiZir is a London-based mineral sands, titanium and iron ore ilmenite producer and processor, with operations in Norway and Senegal.
| Issuer: | TiZir Ltd.
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| Amount: | $300 million
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| Maturity: | July 2022
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| Securities: | Senior secured bonds
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| Bookrunners: | ABG Sundal Collier ASA, Pareto Securities AS
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| Co-manager: | Sparebank 1 SR-Bank
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| Coupon: | 9½%
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| Listing: | Company will apply for the bonds to be listed on the Oslo Stock Exchange
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| Announcement date: | July 5
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