Clarksons Securities would like to congratulate Pembroke Resources Pty Ltd on the successful USD550 million of senior secured bonds ("the Bond") in the Nordic Corporate Bond Market.
Pembroke owns the world-class Olive Downs Complex, a large-scale steelmaking coal mine located in Queensland's Bowen Basin. The net proceeds of the Bond will be used predominantly to refinance Pembroke's existing debt facilities, and to support the next stage of the Olive Downs expansion.
Stage one of the complex currently produces six million tonnes run-of-mine, supplying tier-one steel mills across Southeast Asia and Europe with high-quality coking coal. The expansion will, once completed, double annual production capacity to twelve million tonnes run-of-mine.
Clarksons Securities acted as Sole Manager for the transaction with the offering attracting significant interest from credit investors globally and was substantially oversubscribed.
Commenting on the transaction, Hans-Arne Lorange, Clarksons Managing Director, Metals and Minerals says: