Diversified resources company Mineral Resources Limited has successfully raised US$1.3 billion through a senior unsecured notes offering, marking its strongest outcome in the international debt markets to date. The transaction supports the company’s focus on strengthening its balance sheet and reducing borrowing costs.
The offering comprised two bond tranches issued to institutional investors in the United States and offshore markets. This included US$650 million of notes maturing in May 2032 with a 6.00 per cent interest rate, and a further US$650 million of notes maturing in May 2034 at 6.25 per cent. The company said the pricing represents the lowest rates it has achieved to date.
Settlement of the transaction is expected on 29 April 2026. Proceeds will be used to refinance higher-cost debt, delivering an estimated annual saving of approximately $48 million in finance costs. The refinancing is also expected to reduce Mineral Resources’ average interest rate on long-term debt from 8.4 per cent to 7.4 per cent and extend its average debt maturity from 3.1 years to five years.
Managing Director Chris Ellison and Chief Financial Officer Mark Wilson conducted investor briefings during the transaction process. Mineral Resources said the outcome reflected strong investor support for the company’s strategy, asset base and long-term value proposition.
Mineral Resources in February announced its strongest half year performance, with the company reporting underlying EBITDA of $1.2 billion on revenue of $3.1 billion, with net profit after tax of $573 million and free cash flow of $293 million.
