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Molycorp Prices $650 million of Senior Secured Notes


Molycorp, Inc. (NYSE: MCP) today announced the pricing of $650 million aggregate principal amount of 10.000% senior secured notes due 2020 in an offering exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The notes will be senior secured obligations of Molycorp and will be guaranteed by certain of Molycorp's subsidiaries. The gross proceeds from the offering of the senior secured notes will be placed into escrow pending the consummation of the proposed acquisition by the Company of Neo Material Technologies Inc. (“Neo”). Following release of the gross proceeds from escrow, the Company intends to use a substantial portion of the net proceeds from the offering to fund a portion of the Company's proposed acquisition of Neo, including related fees and expenses, and any remaining net proceeds would be used for general corporate purposes.

Posted-In: News Financing Offerings


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