Perenti holds investor meetings for $350 million five-year notes

By Paul A. Harris

Portland, Ore., April 16 – Perenti Finance Pty Ltd. plans to hold investor meetings on Tuesday and Wednesday for a $350 million offering of five-year senior notes (expected ratings BB/BB+), according to market sources.

The Rule 144A and Regulation S notes come with two years of call protection.

Joint bookrunner HSBC will bill and deliver. Standard Chartered is also a joint bookrunner.

The Australia-based mining group plans to use the proceeds to partially redeem $230 million of its $433 million of outstanding 6½% senior notes due 2025 and to partially repay amounts drawn under its syndicated facility.

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