Sibanye loses R13.5bn in value after convertible bond issue
Proceeds will finance the acquisition of US-based metals recycler Reldan and provide working capital
Sibanye-Stillwater lost a fifth of its value on Tuesday after unveiling a plan to build a sizeable war chest to smooth out its journey towards green metals.
The precious metals producer plans to raise $500m (R9bn) through the issue of convertible bonds that enable the participants to earn an annual interest of 4%-4.5% until November 2028 when the principal amount will be settled...
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