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North American Palladium (PAL -11.1%) dives to multi-year lows after announcing a C$43M ($42.2M)...

North American Palladium (PAL -11.1%) dives to multi-year lows after announcing a C$43M ($42.2M) convertible debt offering, and getting downgraded to Neutral by Credit Suisse in the aftermath. The debt matures in Sep. 2017, carries a yield of 6.15%, and features a conversion price of C$2.90/share, 57% above PAL's current price on the Toronto exchange. (PR)
Comments (1)
  • ZEUS-Mymuseum
    , contributor
    Comments (7) | Send Message
     
    This move by PAL only makes sense if the board feels very confident that palladium prices will rise a lot in the next year or two. Otherwise, it will prove to have been a major mistake.

     

    Zeus-mymuseum
    13 Jul 2012, 01:32 PM Reply Like
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