Brightstar Resources Raises $120 Million In Gross Debt Proceeds From Bond Issuance, Shares Fall Over 6%

MT Newswires Live03-04 07:59

Brightstar Resources (ASX:BTR) raised gross debt proceeds of $120 million via a fully subscribed senior secured bond financing process, according to a Wednesday Australian bourse filing.

The four-year bonds carry a coupon rate of 12.5% per annum.

It raised a combined AU$193 million from the bond issuance and a recent share purchase plan, which will be used for the development and construction of the Goldfields project in Western Australia. Site development and construction activities are targeted to start in the June quarter, with first gold anticipated in the June quarter 2027.

Its shares fell over 6% in recent trading on Wednesday.

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