News: Nyrstar SA (NYR.BR)

NYR.BR on Brussels Stock Exchange

2.04EUR
11:35am EDT
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Fri, Sep 12 2014

Nyrstar pays up in spooked high-yield market

LONDON, Sept 12 (IFR) - Nyrstar took a brave step into the unknown as the first company to bring a debut euro high-yield deal after the summer break, but was forced to pay up and rewrite terms in an increasingly skittish market.

UPDATE 1-Zinc smelter Nyrstar launches rights issue at heavy discount

* Combined with 350 mln euro bond to fund investment, cut debt

Nyrstar launches rights issue at deep discount

BRUSSELS, Sept 11 - Belgium's Nyrstar, the world's largest zinc smelter, launched a rights issue on Thursday, offering new shares at a half-price discount, part of a 600 million euro ($774 million) capital raising to fund investment and reduce its heavy debt load.

BRIEF-Nyrstar says launches 251.6 mln euro rights offering

* Nyrstar launches a 251.6 million euro 1 for 1 rights offering of 170,022,544 new shares at a subscription price of 1.48 euro per new share

BRIEF-Nyrstar prices 350 mln euro notes offering

* 2019 notes were priced at 98.018 % with a coupon of 8.5 % per annum

UPDATE 1-Nyrstar plans combined 600 mln euro rights, debt issues

* Shares rise as much as 9.4 pct (Adds shares, analyst comment)

BRIEF-Nyrstar launches 350 mln euro notes offering

* 2019 notes will be guaranteed by Nyrstar Nv, as parent guarantor, and certain subsidiaries of issuer Source text for Eikon: Further company coverage:

China's MMG cuts zinc output f'cast, says tight supply lifting prices

* MMG pours water on mkt talk it's eyeing BHP nickel asset

RPT-UPDATE 1-Nyrstar agrees funding for Australian lead smelter upgrade

BRUSSELS, May 16 - Belgium's Nyrstar, the world's largest zinc smelter, said it had agreed a funding package with the Australian government to upgrade and expand its 125-year-old lead smelter in Port Pirie, Australia.

UPDATE 1-Nyrstar agrees funding for Australian lead smelter upgrade

* Plant is a major local employer (Adds details on processing capacity, jobs)

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