• New $300m convertible notes due 2032 at 2.625% p.a.
• Concurrent repurchase of $293.3m of existing 2029 convertible notes
• New notes have 37.5% conversion premium over reference share price

New Hope Corporation Limited (ASX: NHC) has successfully priced A$300 million in new senior unsecured convertible notes due 2032 (New Notes) and completed the concurrent repurchase of A$293.3 million principal amount of its existing senior unsecured convertible notes due 2029 (Existing Notes). The New Notes have an initial conversion price of A$7.41 per ordinary share, representing a 37.5% conversion premium over the reference share price of A$5.39. The net proceeds from the offering will be used to fund the concurrent repurchase of the Existing Notes. Following the repurchase, approximately A$6.7 million in aggregate principal amount of the Existing Notes will remain outstanding, which New Hope intends to redeem. The New Notes will mature on 22 April 2032 unless earlier redeemed, repurchased or converted. New Hope CFO Rebecca Rinaldi commented that the transaction underscores the company's ability to access capital at competitive and flexible terms, and that it has proactively addressed the refinancing of the existing notes.