The transaction saw MinRes issue two new bonds to institutional investors across the United States and international markets – securing US$650 million at an interest rate of 6.00% maturing in May 2032 and US$650 million at an interest rate of 6.25% maturing in May 2034 – returning the lowest rates the company has achieved.
The offering is expected to settle on 29 April 2026 and will save the MinRes approximately $48 million per year in finance costs, reduce the average interest rate on the company’s long term debt from 8.4% to 7.4% and extend average debt maturity from 3.1 years to five years.
Bond proceeds will be used to retire a combination of existing higher-cost debt, extending the MinRes' debt maturity profile and meaningfully reducing its cost of borrowing.
Managing Director Chris Ellison and Chief Financial Officer Mark Wilson presented directly to global investors as part of the transaction process, providing a comprehensive overview of the company’s business model, assets and growth pathway.
The transaction marks MinRes' fifth bond offering in the international market, which despite prevailing global volatility was executed efficiently and offered strong endorsement from investors on the company's strategy, asset base and continued focus on delivering long-term value.
More details are available in the ASX announcement.
