MIN US bond issue at 9.25%, can I get some?

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

Ask a question

The Latest Q&A

Question asked 07/10/2023

MIN US bond issue at 9.25%, can I get some?

How do I get an allocation of this new corp bond issue and what are your thoughts on it. I know it’s unsecured but MIN is a solid coy with great management

Answer

Hi Marvin,

Demand was strong for the initial $US850mn offering which resulted with MIN increasing the offer to $US1.1bn. Many out their had the same view as yours Marvin!

Unfortunately unless you have a substantial account with JP Morgan’s debt capital bankers in the US, along with associated US based custody arrangements, I don’t believe you will be able to purchase any.

chart

Mineral Resources Ltd (MIN)

LAST UPDATED 06/10/2023 16:30

Latest Reports

Weekend report 27/04/2024

Weekend Q&A: Strong inflation crushes hopes of a rate cut in 2024

Afternoon report 26/04/2024

The Match Out: ASX (nearly) gives up week’s gain in tough Friday session

The local market dropped ~100 points on the open, failing to see any reprieve following two weaker sessions out in the US since our close on Wednesday. After dropping back below 7600 the index traded in a reasonably tight 30-point range for the rest of the session, failing to join in on the rally across the region and what’s showing on the US Futures ahead of their Friday session. BHP managed to take 31pts off the market alone today, weakness coming after they lobbed an all scrip bid for Anglo American (AAL LN). Despite the soggy end to the week, the ASX200 finished marginally higher, +8pts / +0.11%.