Impala Platinum Holdings, the South African platinum mining company, has launched a tender offer to convert its outstanding 3.25% $250m June 2022 convertible bonds into equity, after a massive rally in its share price over the last year.
The move is part of a wider effort by Impala to strengthen its balance sheet after falling into operational difficulties in 2016 and 2017 as a result of the downturn in commodities prices, which led to many of its mines becoming unprofitable. Alongside platinum, Impala mines other platinum
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