https://www.engineeringnews.co.za

Nickel Mines places A$175m notes for Angel funding

30th March 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Nickel Mines has completed a $175-million senior secured note offering to help fund the second stage acquisition of the Angel Nickel project, in Indonesia.

The senior unsecured notes have an interest rate of 6.5% and will mature at the start of April 2024.

“With the company’s strong current cash position and demonstrated cash generating capacity from the company’s existing asset base, the cost of capital was a key consideration for the bond issue,” said Nickel Mines executive director and CFO Peter Nightingale.

“The company’s significant funding flexibility for the Angel Nickel acquisition allows the company to size the bond issue to optimise the terms of our inaugural issuance in light of volatile prevailing market conditions.

“Concurrently, the establishment of a listed bond programme provides the company with access to a diversified and efficient form of funding which will position the company very well to pursue future opportunities that may be available to it beyond the current Angel Nickel transaction.”

Nickel Mines last year struck a definitive agreement with partner Shanghai Decent Investment to acquire a 70% interest in the Angel Nickel project for $490-million.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.089 2.58s - 140pq - 2rq
Subscribe Now