The 3.750 percent guaranteed notes due 2022 (the “Notes”) was issued in the aggregate principle amount of U.S.$300,000,000 by Tianqi Finco Co., Ltd. (the “Issuer”) and unconditionally and irrevocably guaranteed by Tianqi Lithium Corporation (the “Guarantor”). The Issuer is an indirect, wholly-owned subsidiary of the Guarantor.
Unless previously redeemed, or purchased and cancelled, the notes will be redeemed at their principle amount at on 28 November 2022 with bearing interest from and including 28 November 2017 at the rate of 3.750 percent per annum, payable in arrear on 28 May and 28 November in each year.
The Notes constitute direct, general, unsubordinated and unconditional obligations of the Issuer which will at all times rank pari passu among themselves and at least pari passu with all other present and future unsecured obligations of the Issuer. The guarantee of the notes constitutes direct, general, unsubordinated and unconditional obligations of the Guarantor which will at all times rank at least pari passu with all other present and future unsecured obligations of the Guarantor.
The Notes are rated “Baa3” by Moody’s Investors Service, Inc. (“Moody’s”). In addition, the Guarantor has been assigned a corporate rating of “Baa3” by Moody’s.