Nyrstar Netherlands tenders for up to €320 million of two note series

By Susanna Moon

Chicago, Sept. 16 – Nyrstar NV wholly owned subsidiary Nyrstar Netherlands (Holdings) BV began a public tender offer for up to €320 million of notes, according to a press release.

In the offer, the company will purchase any and all of its €220 million principal amount of outstanding 5½% bonds due April 9, 2015 and up to €100 million of its outstanding €515 million 5 3/8% bonds due May 11, 2016.

The tender offer will be funded with proceeds of a notes offering and rights offering.

Through the offer, Nyrstar intends to address the refinancing of its 2015 bonds ahead of maturity and proactively manage a portion of its 2016 bonds maturing in 2016, the release said.

The 5½% bonds were issued on April 9, 2010, and the 5 3/8% bonds were issued on May 11, 2011.

The offer is a part of a comprehensive strategic financing, the company said.

In addition to the offer, the financing consists of €350 million of 8½% senior notes due 2019, which priced at 98.018% of par on Sept. 12, and a €251,633,365 rights offering for new shares at €1.48 each, the company added.

The mining and metals business is based in Balen, Belgium.

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