9th Oct 2020 08:21
(Alliance News) - Antofagasta PLC on Friday said it has priced its USD500 million 2.375% notes due 2030, the proceeds of which will be used for general corporate purposes.
On Monday, the FTSE 100-listed copper miner announced plans to issue an inaugural bond in a bid to "diversify" its sources of funding.
At the time, it stated: "This will be the inaugural bond issued by the company and will diversify Antofagasta's sources of funding, introducing long term financing into the company's capital structure. The use of proceeds from the offering of the notes is intended to be for general corporate purposes."
Settlement and issue of the notes are expected to occur on Wednesday.
Shares in Antofagasta were trading 0.5% higher at 1,006.50 pence each on Friday morning in London.
By Ife Taiwo; [email protected]
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