DGAP-News: ICHOR Coal N.V.: IchorCoal places another EUR 10 million of its up to EUR 40 million bonds
(firmenpresse) - DGAP-News: ICHOR Coal N.V. / Key word(s): Bond
ICHOR Coal N.V.: IchorCoal places another EUR 10 million of its up to
EUR 40 million bonds
16.10.2013 / 08:32
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IchorCoal places another EUR 10 million of its up to EUR 40 million bonds
- Bonds have been placed with institutional investors
- The proceeds are used to revamp Vunene Mining's underground activities
Berlin, 16 October 2013: IchorCoal N.V., an internationally operating
mineral resource company, has placed the next EUR 10 million of its up to
EUR 40 million corporate bonds. As the first EUR 25 million of the bonds,
which IchorCoal placed in May this year, the tranche bears an interest rate
of 6.5% and matures in May 2015. It has been placed with institutional
investors. The proceeds are used to intensify the refurbishment of the
underground mine of Vunene Mining in South Africa.
IchorCoal issued its corporate bonds in May 2013 at which time it placed
the first EUR 25 million. The capital was mainly used to increase the stake
of IchorCoal in Mbuyelo Coal, one of its major investments in South Africa.
This stake has meanwhile reached more than 45%. The proceeds will be
principally used by Vunene Mining where IchorCoal holds a participation of
74%. Vunene Mining is currently ramping up its opencast production and
plans to reopen its underground mine at the end of 2014.
The bonds will be included in trading on the Open Market (Freiverkehr) on
the Frankfurt Stock Exchange under the security identification number (WKN)
A1HJ8F. The denomination is EUR 100,000 per note. quirin bank acted as Sole
Lead Manager and Sole Bookrunner for the transaction.
The remaining EUR 5 million may be placed within the next few months. 'For
the moment we have no need for more capital' says Sebastian Giese, the CFO
of IchorCoal. 'In the interest of our investors as well as of our company
we will place the remaining bonds only when we see the opportunity for an
attractive investment.'
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 its
own coal resources, to gain control along the value chain and to sell the
produced coal on the international markets. Considering the global rise in
demand for coal, market opportunities are vast and entrepreneurial action
is essential and offers excellent prospects. The company is led by its CEO
Heinz Schernikau and its CFO Sebastian Giese. Both contribute their long
standing 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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234814 16.10.2013
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Datum: 16.10.2013 - 08:32 Uhr
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