Lihir launches $995 million rights issue and placement
The Australian gold miner is restructuring its balance sheet and closing out its gold hedge contracts.
Australian gold miner Lihir Gold is restructuring its finances by raising new equity through a A$1.2 billion $995 million accelerated rights issue and institutional placement. The institutional portion of the renounceable rights issue closes tomorrow, while the placement is due to price on Friday morning following a two-day bookbuild.
The deal is being arranged and underwritten by Goldman Sachs JBWere and Macquarie Equities as Lihir Gold moves to close out its hedge book, repay its gold loan and other...
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