Cyprium Metals Limited (ASX: CYM) is commencing fixed income investor calls with international debt capital market investors. The issue of a USD denominated senior secured bond with a five-year tenor may follow, subject to inter alia market conditions.
The net proceeds from the contemplated bond issue together with the Offtake Prepayment Facility comprises the targeted A$240M to A$260M debt funding package to finance the restart of the Nifty Copper Project.
All of the approvals that are required prior to completion of financing have been received, with the final approval for the amendment to the State Agreement required to be submitted post finance.
“We are very pleased to have finalised due diligence and documentation to commence fixed income investor calls for a contemplated Senior Secured Bond Issue with Pareto Securities as the manager. The contemplated Bond Issue is part of the full finance package for the restart of the Nifty Copper Project,” Managing Director, Barry Cahill said.
“The restart project economics remain very robust and are further enhanced based on current copper prices of around A$13,000/t. These copper prices are A$1,000/t higher than used in the Nifty Copper Project Restart Study.
“As all of the required regulatory approvals have been able to be completed prior to financing being received, we are looking forward to completing our total funding package so that we can commence executing our Nifty Copper Project restart development plans.”
For further information please visit: https://cypriummetals.com/
