NQ Minerals Put Into Administration While Restructuring Explored

The board of NQ Minerals Plc voted to place the company into administration on Aug. 9, according to a company statement.

• The decision was taken by a unanimous vote
• The firm was placed into administration “to provide the necessary breathing room for all restructuring options to be considered”: statement
• U.K. restructuring specialists from Begbies Traynor Group were appointed as joint administrators
• The firm’s debt includes GBP25m notes, EU29m notes and $32m notes, according to data compiled by Bloomberg
• Invenio Capital’s 2021-F1 notes were secured by loans made to NQ Minerals, according to a separate statement from Bedford Row ...