Lynas Raises $225M For Malaysian Mining Project

Law360, New York (January 24, 2012, 4:19 PM EST) -- Lynas Corp. Ltd. has attracted $225 million in debt financing from investment firm Mount Kellett Capital Management LP to complete a delayed ore processing plant in Malaysia, the Australian mining company announced Tuesday.

Lynas is set to sell $225 million in convertible bonds to funds managed by New York-based Mount Kellett, an opportunistic investment firm, and will retire an untapped AU$125 million ($131 million) facility from JPMorgan Chase Bank NA and Sumitomo Mitsui Banking Corp., according to a filing with the Australian Securities Exchange.

“Lynas is...
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