ABG Sundal Collier acted as Joint Lead Manager and Bookrunner to TiZir Ltd. in connection with the USD 300 million senior secured bond issue

Deal announcement

On Tuesday 4 July, TiZir Ltd. successfully completed the issuance of a USD 300 million senior secured bond in the Nordic bond market. The bond issue was broadly distributed among Nordic and international investors, following an extensive global roadshow. Net proceeds from the bond issue will be used for refinancing of the outstanding USD 275 million senior secured bond issue maturing in September 2017 and general corporate purposes. The new bond carries a 9.5% fixed rate coupon and is secured with share pledges in and guarantees from subsidiaries. TiZir is a joint venture between Eramet of France and Mineral Deposits of Australia, operating a mineral sands mine in Senegal and an upgrading facility in Tyssedal, Norway.