Molycorp raise $650 million in debt offer

Molycorp to raise $650 million in debt offer

5:15 AM, 16th May 2012
Molycorp to raise $650 million in debt offer

GREENWOOD VILLAGE, US: Rare-earth miner Molycorp Inc will raise up to $650 million in an offering of senior secured notes with the proceeds earmarked to help fund its $1.3 billion takeover of Neo Material Technologies. Molycorp’s shares fell 1.1 per cent to $24.64 after market open on the New York Stock Exchange. The acquisition of Neo will give Molycorp access to rare earth processing expertise, product patents, and facilities in China and around the world.

© Reuters News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Clariant focuses on ecofriendly denim

SINGAPORE: Brands are becoming eco-conscious which follows the recent Greenpeace ‘Dirty Laundry’ report - investigating hazardous chemical ...

Read more
IFC launches chemical industry study in Europe and Central Asia

MOSCOW, RUSSIA: IFC, member of the World Bank Group, launched a first of its kind benchmarking study of the chemicals and fertilizer production indust ...

Read more
BASF launches joint safety research project

LUDWIGSHAFEN, GERMANY: The Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), the Federal Institute for Occupational ...

Read more
Yingli, Heraeus invest $70 million in photovoltaic technology

WEST CONSHOHOCKEN, US: Yingli Green Energy and Heraeus group signed of a $70 million cooperation and supply agreement. The Heraeus Photovoltaic Busine ...

Read more
Shell, Iogen drop plans for biofuel plant in Manitoba

LONDON, UK/OTTAWA, CANADA: Royal Dutch Shell and Iogen Corp have scrapped plans for a commercial-scale biofuel plant in Manitoba, spelling the loss of ...

Read more
Evonik expands ThreAMINO capacity in Hungary

ESSEN, GERMANY: Evonik Industries announced a capacity increase of ThreAMINO (L-threonine) at Evonik Agroferm Zrt, a 100 per cent affiliate of Evonik, ...

Read more