Ivanhoe Mines (TSE:IVN) has released an update.
Ivanhoe Mines has announced its plan to redeem all its outstanding 2.50% Convertible Senior Notes due 2026 on July 11, 2024, which amounts to a total of $575 million. This strategic financial move will significantly lower the company’s debt to under $150 million. Noteholders have the option to convert their notes into shares before the redemption date, with an enhanced conversion rate recently adjusted based on the company’s share price.
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