St. Helen's plans convertible loan deal; Malaga to raise $5 million; Fidelity gives details on sale

By Stephanie N. Rotondo

Portland, Ore., April 6 - St. Helen's Finance plc is looking to raise £2 million via a private placement of shares, the company announced Monday.

The company plans to use proceeds for expansion capital.

Meanwhile, Malaga Inc. will raise $5 million through a private placement of convertible promissory notes and from an advance from a recently inked supply agreement. The Filipino company said it will issue $3.8 million of the notes and that it received $1.2 million in connection with the supply agreement.

Fidelity National Information Services Inc. released new details of its $250 million private placement in a regulatory filing Monday. The company will issue approximately 16 million common shares under the terms of the transaction.

VerifySmart Corp. is planning a $5 million stock sale, according to a press release. The funds will be used to further the company's growth plan.

St. Helen's plans loan issue

London-based St. Helen's Finance arranged a £2 million private placement of convertible loan notes, according to a press release.

The loan matures Dec. 31, 2013 and bears interest at 8.5%. The debt is unsecured and may be converted into common shares at 9.5p per share.

The company plans to use proceeds as expansion capital.

"The leasing and finance industry is going through a period of significant change," Norman Kenvyn, managing director of St. Helen's, said in the statement. "Banks [are] reducing debt facilities and general access to capital markets [is] all but evaporating. At the same time, borrowers are being squeezed on their own facilities. The net result is that a number of lessors have withdrawn and others are having to pull back from the market, which leaves an underlying requirement for asset finance, with substantially reduced competition and where there is a greater opportunity to increase returns. The board wishes to take advantage of this and has revised it strategy accordingly."

St. Helen's stock (PLUS: SHF) closed at 8.5p.

Malaga to raise $5 million

Tungsten mining company Malaga is planning a $3.8 million sale of convertible notes, the company said.

The company settled the first tranche of the private placement, according to a press release. Global Tungsten & Powders Corp. purchased $1.3 million of the five-year senior secured convertible promissory notes.

Over the newest four months, the company will issue three more tranches of the notes. The notes bear interest at 12-month Libor and are interest free in the first year.

Furthermore, the notes are convertible into common shares at a price equal to 85% of the volume weighted average trading price of Malaga's stock for the 10 days before conversion.

Also included in the release, Malaga said it entered into a supply agreement with Global Tungsten. Malaga received an advance of $1.2 million. In total, funds from the placement and the advance will equal $5 million.

The proceeds from the placement, along with those from the supply agreement advance, will go toward purchasing new machinery and equipment through its Dynacor Exploraciones del Peru SA subsidiary and to fund further development of Dynacor's Pasto Bueno Mine.

Malaga's equity (Pink Sheets: MLGAF) closed at $0.1102 on Feb. 19.

Malaga is based in Montreal.

Fidelity releases new details

Fidelity National Information Services gave new details on its $250 million private placement of stock, which was first announced March 31.

The Jacksonville, Fla.-based company said approximately 12.86 million shares would be sold to Thomas H. Lee Partners LP in an 8-K filing with the Securities and Exchange Commission. Approximately 3.21 million shares will be issued to Fidelity National Financial Inc.

In the original filing regarding the placement, Fidelity said the financing came in conjunction with the company's planned acquisition of Metavante Technologies Inc. About 16 million shares were originally expected to be issued in the private placement.

Fidelity's stock (NYSE: FIS) closed gained 74 cents, or 4.15%, to $18.58. Market capitalization is $3.55 billion.

VerifySmart to issue stock

VerifySmart announced a $5 million private placement of stock on Monday.

Under the terms of the deal, VerifySmart will issue 4 million restricted common shares at $1.25 per share. Proceeds will be used to further the company's "aggressive growth plan," according to a press release.

The company's equity (OTCBB: VSMR) increased 4 pennies, or 2.14%, to $1.91. Market capitalization is $113 million.

VerfitySmart is a Manila, Philippines-based provider of fraud prevention products and services.

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