Home Market Sirius Minerals set to unveil £2.5bn equity and debt package

Sirius Minerals set to unveil £2.5bn equity and debt package

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London-listed Sirius Minerals is set to unveil a £2.5bn debt and equity fundraising tomorrow as it seeks to develop a potash mine in Yorkshire.

Sky News reported that Sirius is set to announce its largest equity-raising to date as part of a massive financing package.

Read more: Sirius Minerals on track with Yorkshire mine but still chasing up to $600m

The equity will be raised through a placing with existing shareholders, who include Australian mining magnate Gina Rinehart and major City institutions.

It is also expected to announce a debt package which could be worth $3bn (£2.3bn), although Sky sources warned this was yet to be finalised.

The project marks the first deep mine to be sunk in the UK for 40 years and has a completion target date of 2021.

Read more: Sirius Minerals signs BrRead More