15 Jun

Bond Restructuring Discussions

International Mining & Infrastructure Corporation plc (AIM: IMIC), the Company focused on unlocking the value of iron ore in Africa, provides an update on discussions in relation to the restructuring of its US$30 million 9 per cent. bond due to mature in 2017 (the “Bond”). The Bond was raised through the Company’s 100 per cent. owned Canadian subsidiary, Afferro Mining Inc (“Afferro”) and represents the last of the four major IMIC group bond instruments to be restructured.

The Company is in advanced discussions with the holders of the Bond (the “Bondholders”) regarding modification of certain terms of the Bond. The Company has received assurance from the Bondholders that certain proposed amendments to the terms of the Bonds are acceptable and is currently in the process of formalising the Bond restructuring. In accordance with these discussions and pending completion of final documentation, the interest payment of US$1,350,000 due on 20 June 2015 in respect of the Bond will be delayed until 20 December 2015

Full announcement...