Skip to main content

Sirius Minerals to launch US$500 million bond issue to fund polyhalite fertilizer mine

Published by , Editor
World Fertilizer,

Sirius Minerals has announced an intention to offer US$500 million in aggregate principal amount of senior secured notes due 2027 as part of the Group's previously announced Stage 2 Financing.

The Notes will be issued by York Potash Intermediate Holdings, a public limited company incorporated under the laws of England and Wales and an indirect, wholly owned subsidiary of the company.

The proceeds of the offering will be used, together with proceeds from the other elements of the Stage 2 Financing, to fund the construction and development of a polyhalite mine, located in North Yorkshire in the UK in line with Project milestones to the point at which the Project generates positive operating cash flows.

The Notes will be senior secured obligations of the Issuer and will rank pari passu in right of payment to all of the Issuer's existing and future senior indebtedness. The Notes will initially be guaranteed on a senior secured basis by York Potash Holdings Limited, the direct parent of the Issuer, and York Potash Ltd. and York Potash Processing & Ports Limited, subsidiaries of the Issuer, and on a senior unsecured basis by the Company. The proceeds of the Notes will initially be deposited into an escrow account, with the release of the proceeds from escrow subject to the satisfaction of certain conditions.

Read the article online at:

You might also like


Ready to revolutionise the cement industry?

Join our sister publication, World Cement, in Lisbon, 10 – 13 March 2024, for their first in-person conference and exhibition: EnviroTech.

This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.

Get your early bird tickets NOW »


Fertilizer additives market surges to US$3.34 billion in 2023

Worldwide demand for fertilizer additives accounts for a market valuation of US$ 3.34 billion in 2023 and is forecasted to reach US$ 4.7 billion by 2033-end. Over the next ten years, the global fertilizer additives market is projected to rise at 3.4% CAGR.


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

Fertilizer project news