Pilbara Minerals talks $80 million five-year notes at 12% area

By Paul A. Harris

Portland, Ore., June 9 – Australia’s Pilbara Minerals is guiding $80 million of five-year secured notes in the 12% area, according to a bond trader.

Word on the deal, which is being managed by Pareto Securities, circulated more than a week ago, with the mining and exploration company said to be in the market with up to $100 million of the notes.

The deal comes with three years of call protection.

Proceeds will be used to fund the development of its Pilgangoora lithium and tantalum project in Western Australia.

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