Five on standby for €260m Talvivaara rescue

Talvivaara Mining Co., the Helsinki and London listed nickel miner that has suffered production and financial set-backs, on Thursday outlined plans to raise €260m in a rescue rights issue. The deal has standby underwriting from five banks and core shareholders, but a failure of investors to approve the deal at EGM will likely lead to a default on loans and convertible bonds, the company said.