1st Oct 2015 15:44
LONDON (Alliance News) - Atlas Mara Ltd Thursday said it has completed a USD63.4 million placement of senior unsecured convertible notes due in 2020.
The bonds carry a coupon of 8% and will be issued at a price of 82.7% their principal amount, maturing on December 31, 2020. They are convertible into Atlas Mara shares at a price of USD11.0 per share.
Atlas Mara will use the net proceeds of the issue of the bonds to fund near-term acquisition opportunities and for general corporate purposes, it said.
Atlas Mara shares closed up 3.7% to 4.69 pence per share on Thursday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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