Sullivan & Cromwell advised PLS Group Limited on its debut offering of $600 million aggregate principal amount of 6.875% senior unsecured notes due 2031. The proceeds from the offering will be used to repay certain amounts under its senior secured revolving credit facility and for general corporate purposes. The transaction marked first debut high yield bond offering by an Australian metals and mining company since 2021.
PLS is a leading global producer of lithium materials, with a diversified portfolio of assets and strategic partnerships in the rapidly growing battery materials sector. The company owns and operates the Pilgangoora Operation in Australia, the world’s largest independent hard-rock lithium operation, and the Colina Project in Brazil.
The S&C team included Wally Jones, Chris Beatty and Ben Fleming.