Aquarius Platinum refinances with $250m convertible

27 Nov 2009

Southern African platinum miner Aquarius priced a $250m convertible bond on Tuesday to redeem an $80m convertible it had issued six months earlier.

The outstanding deal was part of a $190m refinancing, completed between March and June, which also comprised an equity placement and a rights issue. The fresh capital was used to take out a bridge loan with South African lender Rand Merchant Bank.

The refinancing came under difficult market ...

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