Hema : Focus Emission
Hema is preparing to issue € 760m of bonds in two tranches:1/ a € 610m senior secured FRN maturing in July 2022 (five years) callable from 2018 ;2/ a € 150m senior unsecured bond maturing in January 2023 (5.5 years) callable from 2019.The issuance proceeds are designed to finance:1/ The repayment of all existing Hema bonds, namely: i) the senior secured Hema Bondco I FRN 15/06/19 (€ 250m) callable since 15 June, 2016 at 100%, ii) the senior secured Hema Bondco I 6.25% 15/06/19 (€ 315m) callable since 15 June, 2017 at 101.563%; and iii) the senior unsecured Hema Bondco II 8.50% 15/12/19 (€ 150m) callable since 15 December, 2016 at 104.25%. 2/ The repayment of the € 26m PMO (purchase money obligation facility) maturing in December 2018 and paying a coupon of EUR+7%, with a PIK part and a cash part. This facility was arranged in June 2015 to finance the peak in the WCR. >Themac Resources Group is a mining development company with a 100% ownership interest in the Copper Flat copper-molybdenum-gold-silver project in New Mexico.
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