PERTH (miningweekly.com) – ASX-listed Mineral Resources (MRL) has completed a $700-million senior unsecured note offering.
“Over recent years, MRL’s business has grown and we now have established operations at mines with anticipated lives of between 10 and 30 years. The offering of the notes represents an important financing milestone for MRL and better aligns our funding needs with the long-term nature of our operations, including the development of the Wodgina and Mt Marion hard-rock lithium projects,” said MD Chris Ellison.
A portion of the net cash proceeds from the note offering will be used to refinance certain of MRL’s existing credit facilities, and the remaining cash will be used for general corporate purposes.
Following the repayment of the company’s existing credit facilities, MRL would enter into a new A$250-million syndicated revolving credit facility.