Impala tenders 'expensive' $250m CB into equity after stock rally

By Aidan Gregory
23 Jul 2019

Impala Platinum Holdings, the South African platinum mining company this week completed a tender offer to convert its 2.25% June 2022 $250m convertible bonds into stock, with a high near full acceptance rate from bond holders.

The success of the transaction only came after Impala sweetened the terms of the offer last week, and extended the bookbuild by one working day. Investors were happy to tender once the terms had been improved, according to a source close to the transaction.

In a statement on ...

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