4th Nov 2014 17:22
LONDON (Alliance News) - Petropavlovsk PLC Tuesday confirmed that it has received approaches from third-party investors in recent months, and is continuing talks to complete a refinancing of its outstanding 4% convertible bonds due February next year.
The confirmation followed press speculation of a potential investment in the company from a consortium of investors. The company said it was continuing to talk to its senior lenders, bondholders, other stakeholders and third parties to complete a refinancing.
It said it is continuing to "examine all its options and is working towards a solution in as expedient a manner as possible." It noted that no transaction has been approved or agreed yet.
Shares in the gold-mining company closed up 19.5% at 26.00 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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