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BRIEF-Nyrstar says launches strategic financing
September 1, 2014 / 5:22 AM / in 3 years

BRIEF-Nyrstar says launches strategic financing

Sept 1 (Reuters) - Nyrstar :

* Launches comprehensive strategic financing

* Capital increase through issuance of new ordinary shares with (non-statutory) preferential subscription rights for existing shareholders

* Also includes a tender offer for nyrstar’s outstanding retail bonds

* Rights offering of new shares for an expected amount of ca. 250 million euro with preferential subscription rights for existing shareholders

* Underwriting banks have been appointed and have provided a commitment to underwrite rights offering

* Notes offering to institutional investors of ca. 350 million euro of senior unsecured notes due 2019

* Proceeds to be used for repurchasing any-and-all of its outstanding 2015 retail bonds and a portion of its outstanding 2016 retail bonds

* Reduce net debt (towards a targeted net debt / ebitda ratio of 2.5x), for transaction costs and for general corporate purposes Source text for Eikon: Further company coverage:

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