Tuesday 09 August 2016 by FIIG Research Company updates

Company updates — Adani, CML Group, Emeco, IAMGOLD, MyState Bank, Plenary and Virgin

IAMGOLD added to our DirectBond list and announced an equity raising, CML confirmed the sale of its payroll business is now completed, Emeco provided an operational update, MyState Bank responded to speculation regarding La Trobe Financial acquisition, CDPQ entered agreement to acquire 20% stake in Plenary, and Virgin released its full year results

New DirectBond – IAMGOLD Corp USD 6.75% 1 October 2020 Senior Unsecured Bond

With headquarters in Toronto, Canada, IAMGOLD is a mid-tier mining company with four operating gold mines on three continents: West Africa, North and South America, as well as development and exploration projects. IAMGOLD is listed on the Toronto and New York Stock Exchanges, with a market capitalisation of USD2.15bn as at 2 August 2016.

On 5 August 2016, IAMGOLD was added to FIIG’s DirectBond list. It is a fixed rate bond with a coupon of 6.75% per annum, maturing in October 2020. The bond is available to wholesale investors only, with minimum investments of USD10,000 and denominations of USD10,000 thereafter.

For more information please see the factsheet.External link - opens in a new window

Furthermore, on 8 August 2016 IAMGOLD announced an equity raising of approximately USD200m. More information is available here.External link - opens in a new window

Adani Abbot Point Terminal

Adani has launched a tender offer to buy back $75m of its 2018 bonds.

More information is available here.External link - opens in a new window

CML Group

CML has confirmed that the sale of its payroll business has now completed.

More information is available here.External link - opens in a new window

Emeco

Emeco has provided a fourth quarter operational update.

More information is available here.External link - opens in a new window

MyState Bank

MyState has responded to media speculation about the potential acquisition of La Trobe Financial.

More information is available here.External link - opens in a new window

Plenary

On 9 August 2016, Caisse de dépôt et placement du Québec (CDPQ) entered into an agreement to acquire a 20% stake in Plenary Group Holdings (Plenary).

More information is available here.External link - opens in a new window

Virgin

Virgin has released its full year results to the market.

More information is available here.External link - opens in a new window

 

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