SOURCE: Paladin Energy Ltd

Paladin Energy Ltd

March 31, 2015 15:38 ET

Paladin Energy Ltd Announces Closing of US$150M of 7.00% Convertible Bonds Due 2020

PERTH, WESTERN AUSTRALIA--(Marketwired - March 31, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Paladin Energy Ltd (TSX: PDN) (ASX: PDN) ("Paladin" or the "Company") is pleased to announce the closing of U.S.$150,000,000 7.00% Convertible Bonds due 2020 (the "Bonds") convertible into ordinary shares of the Company (the "Ordinary Shares") to select institutional, professional and sophisticated investors as announced by the Company on February 12, 2015. The Bonds will be issued by the Company today. There were no Canadian subscribers for the Bonds. The offering circular in connection with the issuance of the Bonds is available for viewing on the Company's website at www.paladinenergy.com.au

Additional matters

The Company notes the following matters in relation to the offer of the Bonds that have arisen since the date of the attached offering circular:

  • The issue of the Bonds was approved by the shareholders of the Company at an extraordinary general meeting held on March 30, 2015.
  • Pursuant to its concurrent tender offer for its 2010 Bonds (as defined and described in the offering circular), on March 30, 2015 the Company accepted for repurchase on April 2, 2015 (the "Settlement Date") 2010 Bonds with an aggregate principal amount of US$289,250,000 ("Accepted Bonds") for a total consideration (inclusive of accrued interest on the Accepted Bonds to the Settlement Date of US$1,454,927.50) of US$290,704,927.50. The consideration will be funded using the net proceeds of the issue of the Bonds of US$146,250,000 together with US$144,454,927.50 of the Company's cash balances.

No offer

This news release does not constitute an offer of any Bonds for issue or sale, or an invitation to subscribe for or purchase any Bonds, and is not intended to be used in connection with any such offer or invitation.

Restrictions in certain jurisdictions

The offering, sale and delivery of Bonds and the Ordinary Shares to be issued on conversion of the Bonds in certain jurisdictions may be restricted by law. Persons come into possession the offering circular, or who acquire interests in or deal in the Bonds, are required to inform themselves about and to observe any such restrictions. For a description of certain restrictions on offers, sales and deliveries of Bonds and other offering material relating to the Bonds, see "Subscription and Sale" in the offering circular.

The Bonds and the Ordinary Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The Bonds were offered only to buyers outside the United States in reliance on Regulation S under the Securities Act. The Bonds have not been, and will not be, offered or sold within the United States or to persons within the United States.

ACN 061 681 098  

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