International Mining $1.35 million interest payment pushed to Dec. 20

By Kali Hays

New York, June 15 – International Mining & Infrastructure Corp. plc said that a $1.35 million interest payment due June 20 on its $30 million 9% bonds due 2017 issued by Afferro Mining Inc. has been delayed as a result of restructuring talks, according to a company news release.

Specifically, the interest payment is now due Dec. 20.

The company said that it is in “advanced discussions” with its bondholders on modifications of “certain terms of the bond” and that International Mining is “currently in the process of formalizing the bond restructuring,” according to the release.

As previously reported, the company is also restructuring its $30 million of 8¾% bonds due 2016 and the $20 million of 8 7/8% bonds due 2016, also issued by Afferro.

International Mining is a London-based company focused on unlocking the value of iron ore in Africa through infrastructure development and investments in junior miners. Afferro is a 100% owned Canadian subsidiary of International Mining.

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