mineral resources

ENRC planning $3 billion Eurobond issue

By SRI ⋅ May 18, 2010 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Kazakh mining group Eurasian Natural Resources Corporation (ENRC) plans to sell a $3-billion Eurobond, according to a statement published on the London Stock Exchange (LSE) website.

The issue program has been approved by UK Listing Authority (UKLA). The Eurobond is secured by unconditional and irrevocable guarantees of ENRC subsidiaries Sokolovsko-Sarbayskoe Mining and Processing Unit and Kazchrome.

Deutsche Bank is arranging the deal.

The LSE-listed ENRC said last month it plans to invest $5.3 billion to expand and upgrade production facilities in Kazakhstan within the next four years.

Tags: ENRC, Eurobond

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