LONDON (Alliance News) - New World Resources PLC Friday said it has secured approval from noteholders for its consensual restructuring deal at two creditor meetings held today.
The company said it secured approval from 99.4% of the holders of secured notes by value and 95.3% of unsecured noteholders.
New World Resources is to raise up to EUR185.0 million of additional capital through a rights issue to existing shareholders, a placing to participating existing noteholders, and a super senior credit facility to be provided by participating existing noteholders.
New World Resources shares were up 6.1% to 8.75 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.


The FTSE 100 has finally ended its long-running winning streak after poor economic data from the States dampened stocks by the close of trade on Thurs...


New World Resources (NWR) has revealed that first quarter revenue dropped by almost a third, in what has been an 'extremely difficult' period for the ...


Mining group Kazakhmys fell after Deutsche Bank lowered its target price on the stock from 610p to 600p, maintaining its hold recommendation. The down...


Spectris rose following an upgrade by Citigroup, which raised its rating to 'buy' with a 2,413p price target. The stock fell significantly on Friday. ...


Admiral Group: Deutsche Bank takes target price from 1140p to 1300p retaining a hold recommendation. African Barrick Gold: Deutsche Bank ups target p...


Debenhams rose despite delivering a fall in half year profits after Investec upgraded the retailer from hold to buy with a target price of 90p. Syne...


New World Resources (NWR) said on Thursday it will revise its full-year guidance as a difficult trading environment has affected its operating perform...


African Barrick Gold: Citigroup cuts target price from 267p to 175p and keeps its sell recommendation. African Minerals: Goldman Sachs lowers target ...