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Additional Information
Market: LSE, ASX
Sector: General Mining - Platinum Group Metals
EPIC: AQP
Latest Price: 170.00p  (-0.87% Descending)
52-week High: 576.79p
52-week Low: 141.50p
Market Cap: 801.93M
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Aquarius Platinum
www.aquariusplatinum.com
With four mines and a chrome tailings retreatment project in production, Aquarius Platinum has evolved into the world’s fourth largest primary platinum producer. The company’s operations are located in Southern Africa, home to over 80% of the world’s platinum reserves.
Full Aquarius Platinum profile here
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Aquarius Platinum hires Goldman Sachs To Raise $250 million Through Convertible Bond Issue

24th Nov 2009, 9:18 am Aquarius Platinum hires Goldman Sachs To Raise $250 million Through Convertible Bond Issue

Aquarius Platinum Limited (LSE: AQP) (‘Aquarius’) announced it intends to make an offering of approximately US$250 million of unsubordinated, unsecured convertible bonds with a 2015 redemption. The Bonds will be convertible into Aquarius Platinum shares and are expected to have a coupon in the range of 3.50% - 4.25% per annum. Goldman Sachs (NYSE: GS) is acting as sole Bookrunner in connection with the Offering.

A convertible bond is a regular interest paying debt instrument which can subsequently be converted into the issuing company’s ordinary share capital on predetermined terms.

Bondholders will be able to convert the bonds at a conversion price which will be determined on the closing of the issue. The conversion price will be between 20% - 25% above the Aquarius Platinum share price (volume weighted average) between the launch and pricing of the bond.

Aquarius will have the conditional option to call the Bonds after the first three years depending upon the prevailing price of the company’s shares. This option will be activated if the prevailing share price exceeds 130% of the conversion price.

The principal amount of the issue may be increased to US$300 million in the event over-allotment.

The proceeds will be used to fund the early redemption of all of the Company's existing convertible bonds and for general corporate purposes and business opportunities. Such as the construction of a chromite recovery plant at the company’s Everest platinum mine.

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