By Lisa Kerner
Charlotte, N.C., Nov. 27 - International Mining & Infrastructure Corp. plc's wholly owned subsidiary Afferro Holdings Ltd. issued $30 million of four-year unsecured bonds to institutional investors.
The bonds carry a semiannual interest rate of 9%.
Proceeds will be used for general corporate development purposes, according to a company news release.
"As we progress toward completion of the proposed acquisition of Afferro Mining Inc, this bond further supports our plans to develop Afferro's assets in Cameroon," said chairman Haresh Kanabar in a news release.
International Mining is based in London and focuses on unlocking the value of iron ore in Africa through infrastructure development and investments in junior miners.
| Issuer: | International Mining and Infrastructure Corp. plc
|
| Issue: | Unsecured bonds
|
| Amount: | $30 million
|
| Maturity: | December 2017
|
| Coupon: | 9%
|
| Distribution: | Private placement
|
| Announcement date: | Nov. 27
|
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