INTERNATIONAL legal practice Norton Rose LLP has advised on the invitation made to bondholders on 2 September by Peter Hambro Mining Group Finance Ltd to tender US$53 million 7 per cent.
Gold Equivalent Exchangeable Bonds due in 2012 issued by Peter Hambro Mining Group Finance Ltd and listed on the Channel Islands Stock Exchange for US$109,000 per US$100,000 principal amount of tendered bonds.
On 24 September, the bondholders resolved to amend the conditions of Bonds to grant a call option to the issuer in respect of remaining bonds that had not been tendered and settlement will take place accordingly on 1 October 2009.
Peter Hambro Mining Group Finance Ltd is the Guernsey subsidiary of Petropavlovsk plc (until last week, Peter Hambro Mining plc).
The Norton Rose LLP team consisted of corporate finance partner Simon FT Cox; capital markets partner Tak Matsuda, senior associate James Atkinson and trainee Jordina Walker; regulatory partner Peter Snowdon; and tax partner John Challoner and associate Julia Lloyd.