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

|About: North American Palladium, Ltd (PAL)|By:, SA News Editor

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)