By Mary-Katherine Stinson
Lexington, Ky., Sept. 7 – Mongolian Mining Corp. and wholly owned subsidiary Energy Resources LLC, as co-issuers, priced $4,287,000 of senior notes, as part of a total of $180 million in new 12½% senior notes due 2026 to be issued in connection with its recent exchange offer, according to a notice.
The $4,287,000 of new 12½% senior notes due Sept. 13, 2026 will be sold at 97.
The notes will feature a par call until Sept. 13, 2025 plus the applicable premium and accrued interest.
Beginning on Sept. 13, 2025, the issuers may redeem the notes at 106.25 plus interest. There is also an equity clawback.
Deutsche Bank AG, Hong Kong Branch and Morgan Stanley & Co. International plc are joint bookrunners and joint lead managers.
The new money issuance, totaling $4,287,000, and the exchange offer notes, expected to total $175,713,000, will have the same terms and will form a single series.
The company intends to use the net proceeds from the new money issuance for refinancing purposes.
Mongolian Mining is an Ulaanbaatar, Mongolia-based coking coal producer and exporter.
| Issuer: | Mongolian Mining Corp. and Energy Resources LLC
|
| Amount: | $4,287,000
|
| Issue: | Senior notes
|
| Maturity: | Sept. 13, 2026
|
| Bookrunners: | Deutsche Bank AG, Hong Kong Branch and Morgan Stanley & Co. International plc
|
| Trustee: | Bank of New York Mellon, London Branch
|
| Coupon: | 12½%
|
| Price: | 97
|
| Call features: | At par until Sept. 13, 2025; after at 106.25
|
| Equity clawback: | For up to 35% at 112.5 until Sept. 13, 2025
|
| Pricing date: | Sept. 6
|
| Settlement date: | Sept. 13
|
| Distribution: | Regulation S
|
| ISIN: | XS2616603770
|
| Total issue: | $180 million, including an expected $175,713,000 issued through an exchange offer
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