Pricing of US$650 Million Notes Issue

RNS Number : 7344B

Petra Diamonds Limited

06 April 2017

 

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America

This announcement contains inside information

6 April 2017

LSE: PDL

Petra Diamonds Limited

("Petra", "the Company" or "the Group")

Pricing of US$650 Million Notes Issue

Petra Diamonds Limited announces the pricing of its offering of senior secured second lien notes due 2022 (the "Notes"). The original offering amount of US$600 million has been increased to US$650 million. Interest on the Notes will accrue at the rate of 7.25% per annum, payable semi-annually in arrears. Closing is expected to take place on or about 12 April 2017, subject to customary conditions precedent for such transactions.

The Notes will be issued by Petra Diamonds US$ Treasury Plc, a wholly owned subsidiary of Petra Diamonds Limited.

Net proceeds from the Notes will be used to refinance the Company's existing US$300 million 8.25% senior secured second lien notes due 2020, to repay amounts outstanding under certain of the existing senior facilities (certain of which will be cancelled) and for general corporate purposes.

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For further information, please contact:

Petra Diamonds, London                                         Telephone: [phone]

Cornelia Grant                                                             [e-mail]

Buchanan                                                                  Telephone: [phone]

(PR Adviser)

Bobby Morse                                                               [e-mail]

Anna Michniewicz                                                       [e-mail]

This announcement and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy or subscribe for any securities in the United States of America ("U.S.") or in any jurisdiction to persons to whom or in which jurisdiction such offer or solicitation is unlawful. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state of the U.S., and may not be offered, sold or otherwise transferred in the U.S. absent registration or pursuant to an available exemption from registration under the Securities Act. Neither Petra Diamonds Limited nor its shareholder intends to register any securities referred to herein in the U.S.

Within the United Kingdom, this announcement is directed only at persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("relevant persons"). The investment or investment activity to which this announcement relates is only available to and will only be engaged in with relevant persons and person who receive this announcement who are not relevant persons should not rely or act upon it.

This announcement contains or incorporates by reference "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "projects", "expects", "intends", "aims", "plans", "predicts", "may", "will", "seeks", "could", "would", "shall" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts and include statements regarding the intentions, beliefs or current expectations of the Group concerning, among other things, the Group's results of operations, financial condition, prospects, growth, strategies and the industries in which the Group operates.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future or are beyond the Group's control.  Forward-looking statements are not guarantees of future performance and are based on one or more assumptions.  The Group's actual results of operations and financial condition and the development of the industries in which the Group operates may differ materially from those suggested by the forward-looking statements contained in this announcement.  In addition, even if the Group's actual results of operations, financial condition and the development of the industries in which the Group operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods.

 

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