Proactive Investors – Phoenix Copper Ltd (LON:) highlighted to investors that US$110 million of corporate bonds have been admitted to trading on the official list of the International Stock Exchange (TISE).
The AIM-quoted US-focused company said the bonds have a maturity date of 27 December 2033 and will remain listed on TISE until the earlier of maturity or repayment. They are listed with the ticker symbol PHCOUSDN.
NIU Invest SE has subscribed for US$80 million of the bonds, with the balance held on behalf of Phoenix by the Bank of New York Mellon (NYSE:) as custodian, pending onward transfer to future bond investors.
BNY Mellon has been instructed to issue the second tranche of US$5 million bonds to European private equity company NIU Invest in accordance with the previously announced drawdown schedule, via delivery vs payment.
Last month, Phoenix Copper received the first tranche of US$5 million from NIU Invest against the copper bond issue, with the net proceeds being used to fully fund the construction of the Empire open pit mine in Idaho and for general working capital.
