Long conveyor belt transporting ore to the power plant

    Commodities

    Delivering capital to fund growth in metals mining

    Largest global equity raising in the metals and mining sector for 20161.

    Sector Commodities
    Sub-sector Metals and mining
    Location United States

    Opportunity

    In 2016, diversified base metals miner MMG was looking to strengthen its balance sheet and fund project development, having recently acquired a flagship copper mine.

    Approach

    Macquarie acted as sole financial adviser and underwriter on a successful rights issue, providing an important capital injection to fund the company’s growth pipeline.

    Outcome

    The largest rights issue executed in 2016 across the global metals and mining sector2.

    97% take-up

    Offer heavily oversubscribed 5.5x with 97% take-up from existing shareholders

    $US512 million

    Successfully completed a complex, cross border $US512 million 1-for-2 rights issue

    Advisory services

    Leveraged Macquarie's full suite of advisory services across Australia and Asia

    1. Ex-China A share in 2016. Source: Bloomberg 2016.
    2. Ex-China A-share market.

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