Petropavlovsk raises $125m to refi old CB

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By Aidan Gregory
20 Jun 2019

Shares in Petropavlovsk, the London-listed Russian gold miner, rose 7.4% on Thursday after the company issued a new $125m convertible bond to refinance and older note due in 2020.

Gazprombank, JP Morgan, Renaissance Capital and VTB Capital were bookrunners on the placing and tender offer for the old bonds.

The issuer, Petropavlovsk 2010 Ltd, is unrated, but the new July 2024 bonds are guaranteed by Petropavlovsk, which is rated B- with a negative ...

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