DGAP-News: ICHOR Coal N.V.: IchorCoal issues corporate bond of up to EUR 40 million
(firmenpresse) - DGAP-News: ICHOR Coal N.V. / Key word(s): Bond
ICHOR Coal N.V.: IchorCoal issues corporate bond of up to EUR 40
million
07.06.2013 / 15:49
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IchorCoal issues corporate bond of up to EUR 40 million
- First EUR 25 million placed with institutional investors
- The proceeds are used to raise stakes in Mbuyelo Coal
- Remaining EUR 15 million is planned to be issued within the next months
Berlin, 5 June 2013: IchorCoal N.V., an internationally operating mineral
resource company, has issued a corporate bond of up to EUR 40 million. The
first tranche of EUR 25 million bears an interest rate of 6.5% and has a
term of two years. It has been successfully placed with institutional
investors. The proceeds were used to raise IchorCoals stake in its South
African participation Mbuyelo Coal from currently 30% to 37.64%. The step
up was realized via a capital increase.
Mbuyelo Coal is part of Mbuyelo Group, the exclusive partner of IchorCoal
in South Africa. Due to the capital increase, which was solely subscribed
by IchorCoal, the stake of IchorCoal in Mbuyelo Coal rose to 37.64%. The
company will invest the proceeds from the capital increase in its Eloff
mine, one of its most promising coal projects. Eloff has a resource base of
around 500 million tons of steam coal, of which 190 million tons are now
attributable to IchorCoal.
The remaining EUR 15 million will be placed within the next months. For the
moment it is planned to use the proceeds for raising the stake in Mbuyelo
Coal to 40% and for settling the last payments for Vunene Mining. 'We
intentionally split the bond to optimize our cash flows', says Sebastian
Giese, the CFO of IchorCoal. 'We are very happy that our investors accepted
our procedures. Further on we take it as a sign of confidence that we could
place the new bonds in shortest time for an attractive yield of 6.5%.'
The bond will be included in the trading on the Open Market (Freiverkehr)
of the Frankfurt Stock Exchange under the Wertpapierkennnummer (WKN)
A1HJ8F. The denomination is EUR 100.000 per note. quirin bank acted as Lead
Manager and Bookrunner to the transaction.
The Management Board
About IchorCoal N.V.
IchorCoal N.V. is an internationally operating mineral-resource-company
specializing in investments in coal resources as well as in other projects
in the field of coal logistics and coal handling along with coal trading
via its marketing arm HMS Bergbau AG. The company is aiming to secure own
coal-resources, to gain control along the value chain and to sell the
produced coal on the international markets. In consideration of the global
rise in demand for coal, market chances are vast and entrepreneurial action
is essential and bears excellent prospects. The company is led by its CEO
Heinz Schernikau and its CFO Sebastian Giese. Both bring in their long time
experience in the commodity sector.
Forward-looking statements
This news release includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning estimates
of expected mining and associated costs, statements relating to estimates
of, and increases in, production, cash flows and values and other
statements which are not historical facts. When used in this document, the
words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may',
'potential', 'should'and similar expressions are forward-looking
statements. Although IchorCoal believes that its expectations reflected in
these forward-looking statements are reasonable, such statements involve
risks and uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important factors
that could cause actual results to differ from these forward-looking
statements include the potential that the Company's projects will
experience technological and mechanical problems, that geological
conditions in the reservoir may not result in commercial levels of oil and
gas production, that changes in product prices can have a material impact
and that IchorCoal fails to raise sufficient capital to adequately fund its
activities.
Contact:
IchorCoal N.V.
An der Wuhlheide 232, 12459 Berlin
Phon: +49 30 65 66 81 60
FAX: +49 30 65 66 81 15
info(at)ichorcoal.com
www.ichorcoal.com
Thomas Luber
NewMark Finanzkommunikation
Zum Laurenburger Hof 76, 60594 Frankfurt
Phon: +49 69 94418069
mobil: +49 171 8311216
Thomas.luber(at)newmark.de
End of Corporate News
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07.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Datum: 07.06.2013 - 15:49 Uhr
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