Ferro-Alloy raises $151,936 though newly issued bonds

By Taylor Fox

New York, Nov. 12 – Ferro-Alloy Resources Ltd. raised $151,935.54 through the issuance of bonds on the Astana Stock Exchange, according to a news release.

Investors subscribed for 51 of the company's bonds with a value of $1,984.88 each.

The bonds are unsecured with a coupon rate of 5.8% and bear interest of 7.5%, paid twice-yearly and the bond is repayable on March 17, 2023.

The investors have the right to request early repayment by giving 30 days' notice, which may be given only between 12 and 13 months after issue.

Investors have also subscribed for 26 bonds with a price per bond of $1,950.29 each.

The 26 bonds are also unsecured, with coupon rate of 5.8% and effective interest rate of 7%.

The interest on the bonds is paid semiannually and the bond is repayable on March 17, 2023.

Ferro-Alloy is a vanadium mining and processing company based in Southern Kazakhstan.

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