Mineral Resources (MinRes) completed a $1.3 billion Rule 144A/Reg S offering of two series of notes, consisting of $650 million of 6% Senior Notes due 2032 and $650 million of 6.25% Senior Notes due 2034.
The proceeds from the offering were used to redeem certain outstanding notes and satisfy outstanding amounts under MinRes’ iron ore prepayment arrangements.
MinRes is a diversified resources company listed on the Australian Securities Exchange with operations in mining services, iron ore, lithium and energy. It is Australia’s fifth largest iron ore exporter based on mines owned, and its lithium assets comprise one of the world’s largest hard rock lithium portfolios based on estimated ore reserves and mineral resources.
This transaction marks the second high-yield bond offering by an Australian issuer in the U.S. markets in 2026, following PLS Group’s debut $600 million notes offering in April, on which S&C also advised. Accordingly, S&C has advised on both transactions completed in the U.S. high yield bond market by an Australian issuer to date in 2026.
The S&C team advising MinRes included John Estes, Ben Fleming, Paul Rota and Karina Poon. Jeff Hochberg, Saul Brander and Julia Fleurantin advised on U.S. tax matters. Saul Brander and Sizhuang Miao advised on ERISA matters.