RB Platinum digs up R1.2bn with debut CB

Convertible bond
By Jon Hay
08 Mar 2017

Royal Bafokeng Platinum raised R1.2bn ($92m) on Wednesday with its first convertible bond, as it ramps up its investment again after a recovery in the platinum price.

Morgan Stanley and Rand Merchant Bank led the deal.

RBPlat’s shares were trading as high as R77 in mid-2014 but lost three quarters of their value in the next 18 months, as platinum prices fell and it had to scale back investment.

The company now has a market ...

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