Sirius Minerals offers to repurchase $244.2 million of convertibles

By Sarah Lizee

Olympia, Wash., April 30 – Sirius Minerals plc is offering to repurchase any and all of its outstanding $244.2 million of guaranteed convertible bonds due 2023, according to an announcement.

The company said Tuesday that it intends to issue $244.2 million in guaranteed convertible bonds due 2027 to holders of the outstanding guaranteed convertible bonds due 2023 that tender their bonds as part of the repurchase offer.

The repurchase price will be $200,000 per $200,000 principal amount of the existing bonds. In addition, the company will make an interest payment of $3,967 per $200,000 of the principal amount repurchased.

Sirius Minerals is a U.K.-based fertilizer development company.

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