Mineral Resources offers $750 million of eight-year senior notes; initial guidance 7¾%-8% area

By Paul A. Harris

Portland, Ore., April 8 – Mineral Resources Ltd. will market a $750 million offering of eight-year senior notes (B+) on an investor roadshow, according to market sources.

The notes come with early guidance in the 7¾% to 8% area, a bond trader said.

The Rule 144A and Regulation S offering is expected to price during the April 15 week.

J.P. Morgan Securities LLC is the lead.

The notes come with three years of call protection.

The Perth, Australia-based mining services provider plans to use the proceeds to repay bank debt and for general corporate purposes.

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