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New Hope Corporation Limited (ASX:NHC)

ALERT: Price-sensitive ASX Announcement for NHC
Current share price for NHC : $5.760 0.37 (6.86%)+
Announcement
Release
15 Apr 2026 5:02PM
Price at Release
$5.390
Full Release
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Summary
New Hope Corporation Limited announced the launch of a new offering of A$300 million senior unsecured convertible notes due 2032. This offering is intended to fund a concurrent repurchase of up to 100% of its existing A$300 million senior unsecured convertible notes due 2029. The repurchase will be carried out through a reverse book-build process, with New Hope retaining discretion over any allocations. The conversion price for the new notes is set at 37.5% to 42.5% above the reference share price of A$5.39. The notes offer a coupon rate between 2.375% and 2.875%, payable semi-annually, and include provisions for conversion either through physical settlement or cash settlement at the issuer’s discretion. The company may also amend its existing capped call options or purchase additional call options as a hedge. This financial maneuver aims to extend New Hope’s debt maturity profile and reduce financing costs, aligning with their corporate strategy.
Key Points
  • A$300 million new convertible notes offering due 2032.
  • Concurrent repurchase of up to 100% of existing A$300 million notes due 2029.
  • Reverse book-build process to determine repurchase amount and price.
  • New notes conversion price set 37.5% to 42.5% above A$5.39.
  • Coupon rate of 2.375% to 2.875% per annum, payable semi-annually.
  • Conversion can be cash-settled or physically settled.
  • Potential amendments to existing capped call options.
  • Objective to extend debt maturity and reduce financing costs.
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.