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Liberum acts as Sole Sponsor and Joint Bookrunner on the Sirius Minerals Plc $425m Firm Placing, Placing and Open Offer as part of the Company’s $3.8bn financing plan

23 May 2019 | Joint Bookrunner

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We are pleased to announce that Liberum acted as Sole Sponsor and Joint Bookrunner on a Firm Placing and Placing and Open Offer to raise approximately $425m (£327m) for Sirius Minerals, which completed today. In addition, the Company raised a further $400m through the issue of convertible bonds, raising total gross proceeds of $825m. J.P. Morgan Cazenove (JPM) acted as Sole Global Coordinator and Joint Bookrunner alongside Liberum on the Firm Placing and Placing and Open Offer and Sole Bookrunner on the Convertible Bond Offering

Sirius Minerals Plc is focused on the development of the Woodsmith Mine, which will access the world's largest and highest grade polyhalite deposit located in North Yorkshire, United Kingdom. Polyhalite is a unique multi-nutrient fertilizer, which can be used to increase balanced fertilization around the world.

The placing and convertible bond offering is part of a larger $3.8bn financing plan, which includes a $2.5bn RCF facility provided by JPM and a $500m high yield bond issue to be completed during the summer of 2019.

Shares were priced at 15p. The oversubscribed placing attracted strong support from high quality existing and new investors. Sirius Minerals intends to use the proceeds from the fundraise to continue the construction of their Woodsmith Mine.

Liberum was appointed as Joint Corporate Broker to Sirius Minerals in June 2011 and has helped raise over $1bn (£810m) over 5 transactions.

Liberum Team

Board – David Parsons

Investment Banking – Clayton Bush, Richard Bootle, Edward Thomas, Trystan Cullen, William Hall

Research – Richard Knights

Sales – Sebastian Fernandez, Julian Collett, Edward Blair, Lisa Tugwell

Corporate and Investor Relations – Lynsey Cox, Marcio Remedios

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