Molycorp (MCP) Announces $650M Senior Secured Notes Offering
Tweet
Share
E-mailGet Alerts MCP Hot Sheet
Join SI Premium – FREE
Molycorp, Inc. (NYSE: MCP) announced that it intends to offer to sell, subject to market and other conditions, $650 million aggregate principal amount of senior secured notes in an offering exempt from the registration requirements of the Securities Act of 1933.
The notes will be senior secured obligations of Molycorp and will be guaranteed by certain of Molycorp’s subsidiaries. The gross proceeds from the offering of the senior secured notes will be placed into escrow pending the consummation of the proposed acquisition by the Company of Neo Material Technologies Inc. (“Neo”). Following release of the gross proceeds from escrow, the Company intends to use a substantial portion of the net proceeds from the offering to fund a portion of the Company’s proposed acquisition of Neo, including related fees and expenses, and any remaining net proceeds would be used for general corporate purposes.
The notes will be senior secured obligations of Molycorp and will be guaranteed by certain of Molycorp’s subsidiaries. The gross proceeds from the offering of the senior secured notes will be placed into escrow pending the consummation of the proposed acquisition by the Company of Neo Material Technologies Inc. (“Neo”). Following release of the gross proceeds from escrow, the Company intends to use a substantial portion of the net proceeds from the offering to fund a portion of the Company’s proposed acquisition of Neo, including related fees and expenses, and any remaining net proceeds would be used for general corporate purposes.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Robo.ai names Hao Wang of Changer.ae to its board of directors
- Roots Corporation to go private in C$4.10-per-share deal with Marquee Brands
- Veeva Systems names Dan Rizzo EVP of sales amid leadership change
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
