MANILA, Philippines, 19 March 2012 – Atlas Consolidated Mining and Development Corporation (PSE: AT) ("Atlas”) is pleased to report that its wholly-owned subsidiary Carmen Copper Corporation ("CCC”) which operates the Toledo copper mine in the province of Cebu has completed the issuance of US Dollar-denominated fixed-rate notes representing US$300 million of CCC’s senior unsecured debt with a tenor of five (5) years and five (5) days (the "Notes”).
As previously announced, the Notes – which were issued at the price of 98.95% of face value – will pay interest semi-annually at the rate of 6.5% and will carry a yield to maturity of 6.75%.
The proceeds of the issue will primarily be used to discharge certain existing loan obligations of CCC and to finance CCC’s expansion plans.
BDO Capital & Investment Corporation and Credit Suisse Securities (Europe) Limited acted as Joint Lead Managers and Joint Bookrunners for the unrated Regulation S offering of the Notes.
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