Namibia: Paladin Energy repurchases its convertible bonds
Wednesday, 23 December 2015 21:47
Paladin Energy Ltd, listed on Australian, Canadian and Namibian stock exchanges, announced on December 15, it has repurchased $6 million of its convertible bonds.
The convertible bonds will mature in 2017 with an interest rate of 6%, said the uranium mining company who owns 75% of Langer Heinrich mine in Namibia.
Repurchasing the bonds cost about $5.6 million and will help the company, which used various funding to re-launch its activities on uranium, save a billion dollars.
In Africa, Paladin Energy Ltd also owns 85% of the Kayelekera mine in Malawi where it plans to soon complete feasibility study and restart production at the mine which is under maintenance.
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