Carbo Funding AG, corporate

Carbo Funding AG,

18.05.2018 - 14:12:17

Carbo Funding AG is placing a 8 - 12% Short Term Senior-Secured Bond of up to EUR 30 million

Carbo Funding AG is placing a 8 - 12% Short Term Senior-Secured Bond of up to EUR 30 million

Planned investment into coal development project Acquisition of up to 20 percent of Silesian Coal International Group of Companies S.A. Financing Orzesze-cole-mining project in Poland

Berlin, 18. May 2018: Carbo Funding AG, a financing SPV, is placing a listed short-term senior-secured bond of up to EUR 30 million (ISIN: DE000A2G8WX5, WKN: A2G8WX, symbol: CFY1, "Bond"). The bond bears an interest of 8% up to 12%, depending on the duration of one to three years, and is secured with a market standard security package, which is managed by a security trustee. Carbo Funding AG has reached an agreement with HMS Bergbau AG ("HMS", WKN: 606110, symbol: HMU) that enables Carbo Funding AG to buy up to 20 percent of shares of the subsidiary Silesian Coal International Group of Companies S.A. ("Silesian") at a price of EUR 10 per share, which results to a total maximum purchase price of EUR 20 million.

The proceeds from sale of shares will be used by HMS to finance further preparatory measures for the coal mining in Orzesze, Poland.

As a part of the exclusive exploration license, drillings conducted by HMS in Orzesze revealed a potential coal deposit of 2.2 billion tones in-situ, of which around 672 million tons of high-grade coal were under JORC standard identified as mineable. Silesian plans to access the mine filed via already existing infrastructure and thus to achieve an annual production of approx. 3 million tons of coal cost-efficiently (c. 1/3 costs of a greenfield project) and in a short period of time (within two and a half years after the grant of the mining license). The planned production is equally split between the high-margin coke and thermal coal. Still this year, HMS expects the grant of the mining license for the 20 km² large area in the traditional coal district Kattowiz, Poland.

About Carbo Funding AG:

Carbo Funding AG is a financing special purpose vehicle that invests directly and indirectly in promising coal development projects. To finance the projects, the company, among others, is focused on issuing bonds.

About HMS Bergbau AG:

Berlin-based HMS Bergbau AG is one of the leading independent raw materials marketing and trading companies in Germany, specialising in the international purchase and sale of coal and raw materials such as ore, fertilizers and cement products. Its customers include renowned energy producers and other industrial consumers worldwide, with whom it works closely to provide raw materials. HMS Bergbau AG is active primarily in Asia, Africa and Europe and also develops first-class raw material resources. Through its Polish subsidiary Silesian Coal Sp. S.A., the company also has licences to explore coal reserves in Silesia. HMS Bergbau AG has also sold the coal products of IchorCoal N.V. for a considerable time and concluded a number of new supply agreements in 2016, particularly in Asia. HMS Bergbau AG also handled complex transport solutions for its customers. The company was established in 1995 and is listed on Germany's Frankfurt Stock Exchange in the Basic Board segment.

 

For further questions, please contact: Investor Relations Hillermann Consulting Christian Hillermann Streit's Hof, Poststraße 14-16 20354 Hamburg T. +49 (0) 40 3202791-0 F. +49 (0) 40 3202791-14 Email: office@hillermann-consulting.de

Issuer:

Carbo Funding AG

An der Wuhlheide 232 D-12459 Berlin, Germany Phone +49 (30) 65 66 81-0 Fax +49 (30) 65 66 81-15email: carbofunding@hms-ag.com URL: www.carbofundingag.com

18.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

687723  18.05.2018 

@ dgap.de

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