Paladin Energy raises $100m from convertible

The Australian uranium miner will use the proceeds to help pay down bonds due in November.

Paladin Energy raises $100m from convertible

Uranium mining company Paladin Energy raised $100 million through a convertible bond issue on Thursday, taking advantage of a rising Australian stock market to build up funds ahead of a bond repayment due later this year.

The deal was launched with a 6.5% to 7.5% coupon and a 25% to 30% conversion premium above the February 11 closing price of A$0.370 per unit, according to a term sheet seen by FinanceAsia. The bond...

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