CONVERTIBLE SECURITIES – AUSTRALIA

Labor’s $1bn for Rinehart-backed rare earths

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Original article by Ronald Mizen
The Australian Financial Review – Page: 5 : 15-Jan-25

The federal government’s National Reconstruction Fund is set to become a cornerstone investor in Arafura Rare Earths. The fund is set to acquire $200 million worth of unsecured convertible notes in the rare earths miner, which can be converted into shares at a fixed price and after a specified period of time. The government has previously provided some $840m worth of loans and grants to Arafura, whose biggest shareholder is Gina Rinehart’s Hancock Prospecting. Arafura’s assets include the Nolans rare earths project in the Northern Territory.

CORPORATES
ARAFURA RARE EARTHS LIMITED – ASX ARU, AUSTRALIA. NATIONAL RECONSTRUCTION FUND, HANCOCK PROSPECTING PTY LTD

Fortescue shares slide on Hunan Valin bonds report

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Original article by Tess Ingram
The Australian Financial Review – Page: 23 : 3-Nov-16

Bloomberg has reported that China-based Hunan Valin Group is seeking buyers for up to $US369m worth of Fortescue Metals Group’s convertible bonds. The bonds, which are slated to mature in five years, can be converted into some 65 million shares in the pure-play iron ore producer. Hunan Valin has a 14.2 per cent stake in Fortescue, whose shares closed 4.7 per cent lower at $A5.22 on 2 November 2016.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, HUNAN VALIN IRON AND STEEL GROUP COMPANY LIMITED, BLOOMBERG LP, DEUTSCHE BANK AG, HARBINGER CAPITAL PARTNERS, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO