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Manganese ore producer completes note issue
A global firm advised Consolidated Minerals on its US$400 million senior secured notes issue.
Lara Bullock
Firms: King & Wood Mallesons (Consolidated Minerals Limited)
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Deal: Consolidated Minerals completed a senior secured notes issue
Value: US$400 million
Area: Banking & finance
Key players: The King & Wood Mallesons team was led by partner Nathan Collins (pictured) and supported by senior associate Marcus Wettenhall and solicitor Peixin Truong.
Deal significance: Consolidated Minerals Limited (Consolidated Minerals) is a leading manganese ore producer with mining assets in Australia and Ghana, and is strategically positioned in other steel-making commodities.
Its operations are primarily conducted through major operating/trading subsidiaries in Australia, Ghana and Jersey.
Consolidated Minerals successfully completed an amendment to the terms of their US$400 million 8.00 per cent senior secured notes due 2020 (Notes).
The amendment to the terms of the Notes provides Consolidated Minerals with additional liquidity during a period of low manganese prices.
“We are pleased to have been able to assist Consolidated Minerals to amend the terms of their secured notes so that they have a debt structure that meets their objectives during a challenging time in the manganese market,” King & Wood Mallesons lead partner Nathan Collins said.
