| Home : February 2015 : February 13, 2015 News : Paladin Energy Ltd Announces Successful Raising of Initial US$100M Through Convertible Bonds |
Paladin Energy Ltd Announces Successful Raising of Initial US$100M Through Convertible Bonds |
February 13, 2015
PERTH, AUSTRALIA--(Marketwired - February 12, 2015) - Paladin Energy Ltd (TSX: PDN) (ASX: PDN) ("Paladin" or the "Company") reports that, overnight, the Company launched an offering to raise US$100M of senior, unsecured convertible bonds due March 31, 2020 (Convertible Bonds). The US$100M proceeds of the issue along with the existing cash balance will be used in part to fund Paladin's concurrent tender offer (Tender Offer) to acquire any or all of its US$300M convertible bonds due November 2015 (2015 Bonds). In addition, the Company may elect (over the next 30 days) to issue up to a further US$50M of senior, unsecured convertible bonds to existing or potential strategic partners, on the same terms. The additional amount of up to US$50M, if raised, will be used for additional funding flexibility.
http://www.marketwired.com/mw/release.do?id=1991276&sourceType=3
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