https://www.miningweekly.com

Petra Diamonds issues $600m in notes

30th March 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – To refinance its existing $300-million, 8.25% senior secured second lien notes, Petra Diamonds launched a $600-million notes issue on Thursday.

Proceeds will also be used to repay all drawn bank facilities and for general corporate purposes.

Concurrently, Petra intends to enter into new bank facilities to provide additional liquidity, with the facilities remaining undrawn upon closing of the offering of the 2022 notes.

As a result of an extended debt maturity profile and increased liquidity position, the new capital structure will provide the group with additional financial flexibility.

“This represents a further step forward in the next phase of the company's development as the eight-year capital expenditure programme at our flagship Finsch and Cullinan mines nears completion,” CEO Johan Dippenaar said.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 
Airshrink - CiP
Airshrink - CiP

At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 August 2026
Magazine round up | 21 August 2026
21st August 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.049 0.07s - 128pq - 2rq
Subscribe Now