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Skadden advises Perenti on US$350 million guaranteed senior unsecured notes

Perenti (ASX:PRN) has concluded a US$350 million ($532 million) issue of guaranteed senior unsecured notes in the US bond market.

Global law firm Skadden advised Perenti on the transaction, which was undertaken via its wholly owned subsidiary Perenti Finance.

The notes are unsecured at an interest rate of 7.5%.

The notes are guaranteed by Perenti and certain of its subsidiaries and mature in April 2029.

The proceeds will be used to partially repay Perenti Finance’s existing US$433 million notes and partially pay down amounts drawn under Perenti’s syndicated debt facility.

The Skadden team was led by corporate partner Adrian Deitz (Sydney), with partner Jonathan Stone (Hong Kong), Counsel Garrick Merlo (Singapore) and Associate Marcus Tan (Singapore).

Write to Adam Orlando at Mining.com.au

Images: Perenti
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.