Sirius Minerals plc has announced the launch of its ‘markets-led’ Stage 2 project financing which aims to fund the remaining elements of its North Yorkshire polyhalite mine and processing plant project to completion. The US$3.8 billion financing will comprise a US$400 million equity fundraising, a US$644 million issue of convertible bonds, a US$500 million senior secured bond issue, and a credit facility for up to a maximum of US$2.5 billion. Sirius has signed an engagement letter with JP Morgan for the proposed US$2.5 billion revolving credit facility. It is contingent upon the completion of the full US$500 million bond issue, before Oct. 30 2019.
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