Petra Diamonds $300 million note issue

Overview:

• Petra Diamonds, a Jersey-based diamond mining group, issued $300 million senior secured second lien 8.25% notes, which reach maturity in 2020, to fund a processing plant at the company's Cullinan mine.
• Barclays Investment Bank and RBC Capital Markets acted as joint bookrunners. 
• The notes were listed on the Global Exchange Market of the Irish Stock Exchange. 
• Moody's assigned the issue with a B2 rating.

Rani Mehta - Journalist