BRUSSELS, Mar. 26 -- Belgium's Nyrstar (NYR.BR: Quote), the world's biggest producer of zinc, has successfully closed an offer of 225 million euros ($299.7 million) in five-year bonds, raising more than twice the amount it had initially aimed for.
The group launched the offer on Wednesday and said in a statement late on Thursday that it had been increased from 100 million euros due to strong demand.
The subscription period for the bonds, which will bear annual gross interest of 5.5 percent, will close on Friday at 1645 GMT.
Nyrstar will use the proceeds to further diversify its funding sources and to ensure that it can continue to deliver on its strategy, it said.
The group is expanding into mining to complement its smelting operations, and has already bought mines or acquired stakes in them in Peru, the United States and Greenland.
KBC Bank and ING Belgium have been appointed as joint lead managers and as underwriters for the offering.