Sidley advised a wholly owned subsidiary of Petra Diamonds Limited on its issuance of US$650 million Senior Secured Second Lien Notes 2022, the proceeds of which were used to redeem its existing US$300 million Senior Secured Second Lien Notes due 2020, to repay various credit facilities and for general corporate purposes.

Petra Diamonds Limited is a rough diamond producer quoted with a premium listing on the Main Market of the London Stock Exchange and a constituent of the FTSE 250. The company has controlling interests in a diversified portfolio of five producing diamond operations in South Africa and Tanzania, and maintains exploration programs in Botswana and South Africa.

Sidley's London-based Capital Markets team comprised partner Noel Hughes and associates Christianne Williams, Matthew Ball, Albert Aharonian and Kostian Ciko.