New Hope prices A$200m in notes
PERTH (miningweekly.com) – Coal miner New Hope Corporation has successfully priced A$200-million of senior unsecured convertible notes, due in 2026.
The ASX-listed miner on Friday said that the notes would be convertible into fully paid ordinary shares at a conversion price of A$2.10 each, and would mature on July 2, 2026, unless otherwise redeemed, repurchased or converted.
“We are very pleased with the demand experienced for this convertible notes offering. This transaction has enabled a new group of global institutional investors to invest in New Hope and provides diversified capital for us to expand as we continue to deliver on our core business of providing low cost, reliable and efficient energy to growing nations,” said New Hope CEO Reinhold Schmidt.
“The convertible notes offering enhances New Hope’s ability to pursue growth and acquisition opportunities that may be available in the market, providing value to our investors,” he added.
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