African Minerals shrugs off late start for CB
African Minerals re-opened the European equity-linked market on Tuesday with a quick-fire $350m convertible bond that was strongly supported by outright investors and others with conviction about the company’s equity story. Other early-stage miners that are coming into the production stage might also be tempted by the CB product, said one banker.
The £1.7bn AIM listed miner is best known for its Tonkolili iron ore project in Sierra Leone, set to be the countrys biggest employer and largest contributor to GDP.
It launched the CB to bring forward a capacity increase at the mine and to cover revenues from a delayed
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