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FINWIRES

Mineral Resources Secures $1.3 Billion in Senior Notes Offering

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-- Mineral Resources (ASX:MIN) completed the issue of $650 million in 6% senior unsecured notes due 2032 and a further $650 million in 6.25% notes due 2034, using the proceeds to refinance existing debt and strengthen its overall financial position, according to a Thursday filing with the Australian bourse.

The proceeds and cash on hand will refinance $625 million of 2027 notes, repay $300 million of iron ore prepayments, partially redeem $350 million of 2028 notes, and fund the remaining $750 million of 2028 notes expected to be repaid after completing a lithium partnership with POSCO Holdings, per the filing.

The company will have no material debt maturities until 2030 once these steps are completed and expects to reduce annual finance costs by around $150 million, improving financial flexibility for future capital allocation, the filing added.

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