#Australia #Sydney #Morgan Stanley #Cash Tender Offer #Nickel Industries

Nickel Industries Ltd. Launches Cash Tender Offer for 2028 Notes

On September 23, 2025, Nickel Industries Ltd., a prominent player in the mining sector, officially announced the initiation of a cash tender offer for its outstanding 11.250% Notes due in 2028. This strategic move aims to extend the company’s debt maturity profile and maintain financial flexibility amidst evolving market conditions. The tender offer will be managed exclusively by Morgan Stanley, serving as the Sole Dealer Manager for the transaction.

Details of the Cash Tender Offer

The offer is focused on acquiring any and all of the 2028 Notes, which currently have an outstanding principal amount of $400 million. The fixed price offered for these notes is $1,056.25 per $1,000 in principal amount. It’s important for the bondholders considering this tender offer to note that in addition to the fixed purchase price, they will also receive accrued interest for their accepted notes.

The decision regarding whether to accept any validly tendered notes will be contingent on several conditions set forth in the offer memorandum. These conditions include the successful pricing of new notes, a signed purchase agreement with initial purchasers, and the completion of the new notes issuance, collectively referred to as the “Financing Condition.” This stipulation underscores the company’s cautious approach to managing its liabilities and ensuring that any refinancing or restructuring initiatives align with its broader financial strategy.

Timetable for Tender Offer Process

The cash tender offer commenced on September 23, 2025, with a specific timetable set for the different phases of the tender process:

• - Withdrawal Date: September 29, 2025, at 5 PM New York Time.
• - Expiration Deadline: September 29, 2025, at 5 PM New York Time.
• - Results Announcement Date: September 30, 2025.
• - Settlement Date: October 2, 2025.

All associated dates are indicative and subject to modifications based on the circumstances surrounding the tender offer. Investors are encouraged to consult the Tender Offer Memorandum for detailed insights and updates.

Purpose and Implications of the Tender Offer

The primary objective of this cash tender offer is not only to buy back existing debt but also to strategically manage Nickel Industries’ debt maturity profile. By potentially redeeming or retiring the 2028 Notes, the company aims to mitigate risks associated with upcoming debt obligations and provide a more stable financial foundation moving forward.

Following the successful execution of the tender offer, the company plans to promptly cancel all acquired notes. Any remaining notes not tendered during this offer will be subject to a redemption option that would allow the company to retire those notes at 105.625% of the principal amount, plus accrued interest, after October 21, 2025.

In conclusion, Nickel Industries Ltd.'s recent announcement reflects a proactive strategy in managing its financial commitments and showcases the importance of maintaining a robust capital structure in today’s dynamic economic landscape. Investors and market analysts alike will be closely monitoring the outcomes of this tender offer and its implications for the company's future financial health.

For more detailed information and the tender offer memorandum, stakeholders can visit the provided transaction website.