Implats early bond redemption a damp squib

Opportunistic offer to redeem half of 2022 rand bond fails to deliver

PREMIUM

With just a 7.4% uptake of its partial early bond redemption, Impala Platinum now has to wait until June 2021 to proactively address the R3.2bn instrument.

Implats, SA’s third-largest source of platinum group metals (PGMs), launched the opportunistic offer to holders of the convertible bond that matures in 2022 to terminate R1.625bn of the issue that carries interest of 6.375% and is one of the last major debt instruments on the company’s cash-flush balance sheet...

This article is reserved for HeraldLIVE subscribers.

A subscription gives you full digital access to all our content.

Already subscribed? Simply sign in below.

Already registered on DispatchLIVE, BusinessLIVE, TimesLIVE or SowetanLIVE? Sign in with the same details.



Questions or problems? Email helpdesk@heraldlive.co.za or call 0860 52 52 00.

Would you like to comment on this article or view other readers' comments? Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

X