ACG to raise $200m in bonds to finance Turkey copper mine

ACG Metals (LSE: ACG), founded by a mining executive who helped create aluminum giant Rusal, plans to raise $200 million in bonds to help fund the Turkish copper mine it bought in July. The four-year, senior secured bonds with a coupon rate of 14.75% are being issued at par and are expected to close on Jan. 13. ACG offered the bonds on Dec. 19 and met “strong investor demand across European and international markets,” it said on Thursday.

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