Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Metso Corporation issues an EUR 400 million 7-year Eurobond under the company’s EMTN (Euro Medium Term Note) program. The notes carry a fixed coupon of 2.75 percent. The issue was substantially oversubscribed with around EUR 1.5 billion of orders, and the bond was allocated to about 170 investors. An application will be made for a listing of the notes on the Luxembourg Stock Exchange, where the EMTN program is currently listed.
The new funding will extend Metso’s maturity profile and the funds will be used primarily for general corporate purposes. In addition to the new bond, Metso has issued private placements totaling EUR 100 million during 2012.
Citigroup, Danske Bank, Nordea Markets, and SEB acted as Joint Bookrunners for the transaction.
Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries deliver sustainability and profitability to customers worldwide. Expect results.
www.metso.com, www.twitter.com/metsogroup
