Chicago, July 27 – Ferro-Alloy Resources Ltd. issued $3 million of bonds with a 9% coupon rate due 2026, according to a notice.
The bonds are being issued under the company’s new $20 million exempt offer bond program that is valid through July 31, 2033.
Bonds will be listed on the Astana International Exchange.
"The [new program] will provide the company with the opportunity to replace the bonds that were repaid in March 2023, and provide the flexibility to make further bond issuances to finance the acceleration of the company's development as required in the future," Nick Bridgen, chief executive officer of the company, said in a release about the new issue and the new program.
Ferro-Alloy is a Guernsey-based vanadium mining and processing company with operations in Southern Kazakhstan.
| Issuer: | Ferro-Alloy Resources Ltd.
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| Amount: | $3 million
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| Issue: | Bonds
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| Maturity: | July 27, 2026
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| Coupon: | 9%
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| Settlement date: | July 27
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| ISIN: | KZX000001474
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