DGAP-News: ICHOR Coal N.V. / Key word(s): Bond ICHOR Coal N.V.: IchorCoal issues corporate bond of up to EUR 40 million 07.06.2013 / 15:49
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IchorCoal issues corporate bond of up to EUR 40 million - First EUR 25 million placed with institutional investors - The proceeds are used to raise stakes in Mbuyelo Coal - Remaining EUR 15 million is planned to be issued within the next months Berlin, 5 June 2013: IchorCoal N.V., an internationally operating mineral resource company, has issued a corporate bond of up to EUR 40 million. The first tranche of EUR 25 million bears an interest rate of 6.5% and has a term of two years. It has been successfully placed with institutional investors. The proceeds were used to raise IchorCoals stake in its South African participation Mbuyelo Coal from currently 30% to 37.64%. The step up was realized via a capital increase. Mbuyelo Coal is part of Mbuyelo Group, the exclusive partner of IchorCoal in South Africa. Due to the capital increase, which was solely subscribed by IchorCoal, the stake of IchorCoal in Mbuyelo Coal rose to 37.64%. The company will invest the proceeds from the capital increase in its Eloff mine, one of its most promising coal projects. Eloff has a resource base of around 500 million tons of steam coal, of which 190 million tons are now attributable to IchorCoal. The remaining EUR 15 million will be placed within the next months. For the moment it is planned to use the proceeds for raising the stake in Mbuyelo Coal to 40% and for settling the last payments for Vunene Mining. 'We intentionally split the bond to optimize our cash flows', says Sebastian Giese, the CFO of IchorCoal. 'We are very happy that our investors accepted our procedures. Further on we take it as a sign of confidence that we could place the new bonds in shortest time for an attractive yield of 6.5%.' The bond will be included in the trading on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange under the Wertpapierkennnummer (WKN) A1HJ8F. The denomination is EUR 100.000 per note. quirin bank acted as Lead Manager and Bookrunner to the transaction. The Management Board About IchorCoal N.V. IchorCoal N.V. is an internationally operating mineral-resource-company specializing in investments in coal resources as well as in other projects in the field of coal logistics and coal handling along with coal trading via its marketing arm HMS Bergbau AG. The company is aiming to secure own coal-resources, to gain control along the value chain and to sell the produced coal on the international markets. In consideration of the global rise in demand for coal, market chances are vast and entrepreneurial action is essential and bears excellent prospects. The company is led by its CEO Heinz Schernikau and its CFO Sebastian Giese. Both bring in their long time experience in the commodity sector. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may', 'potential', 'should' and similar expressions are forward-looking statements. Although IchorCoal believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels of oil and gas production, that changes in product prices can have a material impact and that IchorCoal fails to raise sufficient capital to adequately fund its activities. Contact: IchorCoal N.V. An der Wuhlheide 232, 12459 Berlin Phon: +49 30 65 66 81 60 FAX: +49 30 65 66 81 15 info@ichorcoal.com www.ichorcoal.com Thomas Luber NewMark Finanzkommunikation Zum Laurenburger Hof 76, 60594 Frankfurt Phon: +49 69 94418069 mobil: +49 171 8311216 Thomas.luber@newmark.de End of Corporate News
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07.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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215500 07.06.2013
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IchorCoal issues corporate bond of up to EUR 40 million - First EUR 25 million placed with institutional investors - The proceeds are used to raise stakes in Mbuyelo Coal - Remaining EUR 15 million is planned to be issued within the next months Berlin, 5 June 2013: IchorCoal N.V., an internationally operating mineral resource company, has issued a corporate bond of up to EUR 40 million. The first tranche of EUR 25 million bears an interest rate of 6.5% and has a term of two years. It has been successfully placed with institutional investors. The proceeds were used to raise IchorCoals stake in its South African participation Mbuyelo Coal from currently 30% to 37.64%. The step up was realized via a capital increase. Mbuyelo Coal is part of Mbuyelo Group, the exclusive partner of IchorCoal in South Africa. Due to the capital increase, which was solely subscribed by IchorCoal, the stake of IchorCoal in Mbuyelo Coal rose to 37.64%. The company will invest the proceeds from the capital increase in its Eloff mine, one of its most promising coal projects. Eloff has a resource base of around 500 million tons of steam coal, of which 190 million tons are now attributable to IchorCoal. The remaining EUR 15 million will be placed within the next months. For the moment it is planned to use the proceeds for raising the stake in Mbuyelo Coal to 40% and for settling the last payments for Vunene Mining. 'We intentionally split the bond to optimize our cash flows', says Sebastian Giese, the CFO of IchorCoal. 'We are very happy that our investors accepted our procedures. Further on we take it as a sign of confidence that we could place the new bonds in shortest time for an attractive yield of 6.5%.' The bond will be included in the trading on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange under the Wertpapierkennnummer (WKN) A1HJ8F. The denomination is EUR 100.000 per note. quirin bank acted as Lead Manager and Bookrunner to the transaction. The Management Board About IchorCoal N.V. IchorCoal N.V. is an internationally operating mineral-resource-company specializing in investments in coal resources as well as in other projects in the field of coal logistics and coal handling along with coal trading via its marketing arm HMS Bergbau AG. The company is aiming to secure own coal-resources, to gain control along the value chain and to sell the produced coal on the international markets. In consideration of the global rise in demand for coal, market chances are vast and entrepreneurial action is essential and bears excellent prospects. The company is led by its CEO Heinz Schernikau and its CFO Sebastian Giese. Both bring in their long time experience in the commodity sector. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may', 'potential', 'should' and similar expressions are forward-looking statements. Although IchorCoal believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels of oil and gas production, that changes in product prices can have a material impact and that IchorCoal fails to raise sufficient capital to adequately fund its activities. Contact: IchorCoal N.V. An der Wuhlheide 232, 12459 Berlin Phon: +49 30 65 66 81 60 FAX: +49 30 65 66 81 15 info@ichorcoal.com www.ichorcoal.com Thomas Luber NewMark Finanzkommunikation Zum Laurenburger Hof 76, 60594 Frankfurt Phon: +49 69 94418069 mobil: +49 171 8311216 Thomas.luber@newmark.de End of Corporate News
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07.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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215500 07.06.2013
