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.

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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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