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Mineral Resources Limited (ASX:MIN)

ALERT: Price-sensitive ASX Announcement for MIN
Current share price for MIN : $57.980 -4.27 (-6.86%)+
Announcement
Release
21 Apr 2026 9:42AM
Price at Release
$62.250
Full Release
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Summary
Mineral Resources Limited has announced the pricing of its US$1.3 billion Senior Unsecured Notes offering, consisting of US$650 million 6.000% Notes due 2032 and US$650 million 6.250% Notes due 2034. These Notes will be offered to qualified institutional buyers and certain persons outside the United States, with settlement expected on 29 April 2026 in New York, pending customary closing conditions. The proceeds from this offering will be used to refinance the company's existing debt, repay the iron ore prepayment, and redeem certain outstanding notes, resulting in an expected annual finance cost saving of $48 million. This will decrease the company's weighted average cost of debt from 8.4% to 7.4% and extend its debt tenor from 3.1 years to 5.0 years. The offering is not a public sales offer.
Key Points
  • Mineral Resources Limited (MinRes) announced the pricing of US$1.3 billion Senior Unsecured Notes.
  • The offering consists of US$650 million 6.000% Notes due 2032 and US$650 million 6.250% Notes due 2034.
  • The Notes are offered to qualified institutional buyers and certain persons outside the United States.
  • Settlement is expected on 29 April 2026 in New York, subject to closing conditions.
  • MinRes will use proceeds to refinance existing debt, repay iron ore prepayment, and redeem certain other notes.
  • Expected finance cost savings of $48 million per annum.
  • Weighted average cost of debt to decrease from 8.4% to 7.4%.
  • The offering extends the company’s debt tenor from 3.1 years to 5.0 years.
  • The transaction does not constitute an offer to sell the Notes publicly.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.