#Australia #NCIG Holdings #Newcastle Coal #Newcastle #Debt Securities

Newcastle Coal Infrastructure Group Unveils Cash Tender Offer Pricing Terms

On June 24, 2025, Newcastle Coal Infrastructure Group Pty Ltd, a wholly-owned subsidiary of NCIG Holdings Pty Ltd, officially announced the pricing terms for its previously declared cash tender offers for its outstanding debt securities. This significant move is set to affect registered holders of the 2027 Notes and 2031 Notes, collectively known as the Securities. The Company is prepared to purchase up to US$45 million worth of the 2027 Notes, with no purchases expected for the 2031 Notes during this offer period.

Key Dates and Conditions

The cash tender offers are part of a broader effort, officially documented in the Offer to Purchase dated June 9, 2025. The offers will culminate at 5:00 PM New York City time on July 9, 2025, unless they are terminated earlier or extended. The Company emphasizes the importance for holders to thoroughly read the Offer to Purchase before making decisions regarding their securities.

The early tender deadline is particularly crucial; holders must validly tender their securities before 5:00 PM New York City time on June 23, 2025, to be eligible for the total consideration that combines the principal amount and any applicable Early Tender Premium.

Financial Terms and Considerations

The pricing terms for the securities include several critical factors:

• - 2027 Notes: These come with a total consideration of US$961.25 and an early tender premium of US$50, based on a reference yield of 3.861% from the US Treasury Security due May 31, 2027.
• - 2031 Notes: The total consideration is set at US$914.41 with a similar US$50 early tender premium, pegged against a reference yield of 3.912%.

Holders who validly tender their securities by the early tender deadline and are accepted for purchase will receive not only the total consideration but also accrued unpaid interest dating from the last interest payment date until the settlement date.

Expected Settlement Date

The Company anticipates that the early settlement date could be June 26, 2025, contingent upon the satisfaction of specific conditions surrounding the tender offers. As the situation stands, it seems likely that no additional tenders will be accepted beyond the early deadline due to the exceeded maximum tender amount already achieved.

About Newcastle Coal Infrastructure Group

Newcastle Coal Infrastructure Group owns and operates a significant exporting terminal located at the Port of Newcastle, situated in New South Wales, Australia. This terminal is vital to the Australian coal export sector, housing all necessary infrastructure such as rail connections, coal storage, and ship loading facilities. Originating in 2004 through stakeholder collaboration, the Company consists of shareholders that are some of the largest global mining entities, like BHP Group and Yancoal Australia.

Conclusion

This cash tender offer represents a crucial mechanism for Newcastle Coal Infrastructure Group to manage its financial obligations while providing clarity to its holders. As the industry observes these developments, timely engagement in these offers may provide significant benefits for participating holders of the securities. Readers are encouraged to consult the detailed Offer to Purchase for extensive insights and guidance on their securities.