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Security Details
- Coupon Rate
- 8.75%
- Liquidation Preference
- $25.00
- Call Price
- $25.50
- Call / Redemption Date
- 11/30/2023
- Maturity Date
- 11/30/0206
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 2.1875
- Distribution Dates
- 1/31, 4/30, 7/31 & 10/31
- Credit Ratings
- Moody's NR · S&P NR (4/18/2025)
- Tax-Advantaged Dividends
- No
Security Profile
- CUSIP
- 040126203
- Market Cap
- Small Cap
- IPO
- 11/15/2021 · $25.00/share
- Parent Company
- Argo Blockchain plc (ARBK)
Business: Argo Blockchain plcissued in $25 denominations, redeemable at the issuer's option, after 11/30/2023 but prior to 11/31/2024 at $25.50 (102%) plus accrued and unpaid interest, after 11/30/2024 but prior to 11/30/2025 at $25.25 (101%) plus accrued and unpaid interest, after 11/30/2025 at $25.00 (100%) plus accrued and unpaid interest and maturing 11/30/2026. <p> Interest distributions of 8.75% per annum ($2.1875 per annum or $0.546875 per quarter) will be paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the record date that will be (NOTE: the ex-dividend date is one business day prior to the record date). <p> Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. <p> Upon the occurrence of a change of control the company will have the option within 90 days to redeem the Notes at $25.125 (100.5%) per note plus accrued and unpaid interest. <p> This security was not rated by Moody’s or S&P at the time of its IPO. This security was rated as B by Egan-Jones Ratings Agency at the date of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: The 8.75% Senior Notes were issued on 11/15/2021 and are expected to begin trading on the Nasdaq Global Select Market within 30 days of their issue date. The shares may start interim trading on the Other OTC market but we are not aware that they have done so to date.
Company Contact
- CEO
- Justin Nolan
- CFO
- Charlotte Proctor-Worrall
- Investor Relations
- ir@argoblockchain.com