Loan & Debt28 Oct 2026, 06:10 pm
Lloyds Metals Approves USD 130 Million Note Issuance
AI Summary
Lloyds Metals and Energy Ltd's Committee of Board of Directors approved the terms for issuing USD-denominated Senior Secured Floating Rate Notes. The aggregate principal amount will be up to USD 130 Million, with a tenure of 3 years, maturing on October 29, 2029. The notes will bear interest at SOFR + 450 bps, payable quarterly, with principal repayment in a bullet at maturity. The issuance is a private placement under Regulation S of the U.S. Securities Act of 1933 and will be unlisted. Security includes a first-ranking share pledge and assignment over rights in Virtus Lloyds and its subsidiary, along with a second-ranking charge over movable fixed assets.
Key Highlights
- Company approved issuance of USD 130 Million Senior Secured Notes.
- Notes have a 3-year tenure, maturing October 29, 2029.
- Interest rate set at SOFR + 450 bps, paid quarterly.
- Issuance is a private placement under Regulation S.
- Notes will be unlisted with specific asset-backed security.
Price Impact
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