Molycorp (MCP) -9.6% premarket after announcing proposed offerings of $300M aggregate principal...

|By:, SA News Editor

Molycorp (MCP) -9.6% premarket after announcing proposed offerings of $300M aggregate principal amount of its convertible senior notes due 2017 and $150M of its common stock, three days after S&P's downgrade. MCP says proceeds will be used to fund expenses for the remainder of 2012 and H1 2013.