MP Materials Completes $690 Million Green Convertible Notes Offering

Industrial

MP Materials green convertible notes offering


Summary

MP Materials Corp. (“MP Materials” or the “Company”) (NYSE: MP) recently completed an offering of $690 million aggregate principal amount of 0.25% Green Convertible Senior Notes due 2026, including the full exercise of the initial purchasers option to purchase up to an additional $90 million aggregate principal amount of the notes. The Company intends to use the net proceeds to fund future investments in, or financing of, eligible “green projects” intended to reduce the Company’s environmental impact and/or enable the production of low-carbon technologies.

Baird served as a co-manager on this offering.

About

MP Materials is the largest producer of rare earth materials in the Western Hemisphere. With over 300 employees, the Company owns and operates Mountain Pass, an iconic American industrial asset, which is the only rare earth mining and processing site of scale in the Western Hemisphere and currently produces approximately 15% of global rare earth content. Separated rare earth elements are critical inputs for the magnets that enable the mobility of electric vehicles, drones, defense systems, wind turbines, robotics and many other high-growth, advanced technologies. MP Materials' integrated operations at Mountain Pass uniquely combine low production costs with best-in-class environmental standards, thereby restoring American leadership to a critical industry with a strong commitment to sustainability. MP Materials is headquartered in Las Vegas, Nevada.
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Industrial

MP Materials green convertible notes offering

Date
April 2021
Company
MP Materials Corp.
Transaction
Equity Capital Markets
Sectors
Industrial
Verticals
Speciality Materials & Chemicals
Water & Filtration
Target Location
North America
Acquiror Location
North America

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