Business
Exempt Offer Bond Programme - Second Tranche
Exempt Offer Bond Programme - Second Tranche.
About this update from Ferro-alloy Resources Ltd.
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (INCLUDING AS IT FORMS PART OF THE LAWS OF ENGLAND AND WALES BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\").\n \n19 September 2023\nFerro-Alloy Resources Limited\n(\"Ferro-Alloy\" or the \"Group\" or the \"Company\")\n \nExempt Offer Bond Programme - Second Tranche\n \nFerro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, is pleased to announce the launch of the second tranche of the Company's exempt US$20 million offer bond programme valid until 31 July 2033, with a nominal value of US$5m.\n \nSummary\n· As previously announced on 27 July 2023, the Company launched a new exempt offer bond programme (the \"Programme\") where all bonds issued under the Programme will be listed on the Astana International Exchange (\"AIX\") in Kazakhstan.\n· The first tranche of bonds (nominal value of US$3m) issued under the Programme have been materially sold (1,447 out of 1,500 units sold) and as a result the Company has launched a second tranche of bonds (the \"Second Tranche\") with a nominal value of US$5m.\n \nSecond Tranche\n· On 19 September 2023, the Company listed the Second Tranche issued under the Programme on the AIX.\n· The proceeds from the sale of the Second Tranche will be used to accelerate the development of the Balasausqandiq project, including front-end engineering.\n· A summary of the terms and conditions of the Second Tranche is as follows:\n \n- ISIN: KZ000001623\n- Specified currency: US Dollars\n- Face value: US$100 (one hundred US dollars)\n- Number of bonds: 50,000 (fifty thousand) units\n- Total nominal amount of the bonds: US$5,000,000 (five million US dollars)\n- Issue date: 19 September 2023\n- Last date of the circulation period: 18 September 2026\n- Maturity date: 19 September 2026\n- Coupon rate: 10.0% fixed ...