(Alliance News) - Sirius Minerals PLC is to offer USD500 million in secured notes as part of its stage two financing for the Woodsmith polyhalite mine in Yorkshire.
The USD500 million senior secured notes will be due in 2027, and form part of the USD2.5 billion senior debt element of the funding.
The other parts of the stage two financing were a USD425 million equity raise, which has been completed at a 32% discount, as well as USD400 million of bonds, which has also been finished.
Sirius hopes to have the financing in place by the end of September. Shares were 2.3% higher on Friday afternoon in London at 16.24 pence each.