Cases & Deals

  • Home
  • Practices
  • Base Resources signs $170 million syndicated project finance facilities and completes A$170 million placement and rights issue

Share

Base Resources signs $170 million syndicated project finance facilities and completes A$170 million placement and rights issue

September 2011

Client(s) Base Resources Limited

Jones Day advised Base Resources Limited, a minerals exploration and development company, on the U.S. aspects of its placement and rights issue to raise approximately A$170 million. The equity issues were completed on September 20, 2011. In addition, Jones Day advised Base Resources Limited in its US$170 million syndicated project finance facility which also signed in November 2011.

The proceeds of the placement and rights issue, together with the syndicated project finance facility, will provide funding to develop the Kwale Mineral Sands Project in Kenya which is expected to be one of the top producers of ilmenite and rutile in the world, with production amounting to nearly 10% and 14% of the global supply of these minerals respectively.

Contacts

Before sending, please note:

Information on www.jonesday.com is for general use and is not legal advice. The mailing of this email is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Anything that you send to anyone at our Firm will not be confidential or privileged unless we have agreed to represent you. If you send this email, you confirm that you have read and understand this notice.