Mineral Resources shares lift as it completes of $1.1b debt offering
Make us a preferred source
Make us a preferred source on Google
More news: Mineral Resources shares jumped after the mining group completed its $1.1 billion debt offering.
MinRes shares were up 4.1% to $41.19 at 4:10pm AEST, having dropped 21.6% over the last 12 months.
Fellow lithium miners Liontown Resources (+9.1%), Pilbara Minerals (+5.1%) and IGO (+4.5%) were also higher.
RBC Capital Markets analyst Kaan Peker said he viewed MinRes' announcement as "positive". The move will see the company swap debt with a nearer maturity and higher interest, for debt with a longer maturity but lower interest, he said.
Peker noted that the transaction reduces interest costs, extends debt maturity to better align with asset life, reduces liquidity costs, and indicates a positive perception in the company's creditworthiness.
Mineral Resources completes $1.1b debt raise
The news: Lithium and iron ore producer Mineral Resources has completed its offering of debt worth USD700 million ($1.1 billion).
The numbers: The 7% senior unsecured notes will mature in 2031 and were available to qualified institutional buyers.
The context: The proceeds will be used to refinance the company’s existing USD700 million senior unsecured notes due in May 2027.
The plan to issue new senior unsecured notes was announced to the market on 22 September 2025.
The source: ASX
