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CBSNews reported shares of Stillwater Mining Co. (NYSE:SWC) tumbled Thursday after announcing plans to sell $300 million in notes.
CBSNews reported shares of Stillwater Mining Co. (NYSE:SWC) tumbled Thursday after announcing plans to sell $300 million in notes.
As quoted in the market news:
THE SPARK: The Billings, Mont.-based company wants to sell $300 million of convertible senior notes due 2032. The company also plans to grant the offering’s underwriters a 30-day option to buy up to an additional $45 million in notes to cover possible overallotments.
THE BIG PICTURE: The notes will pay interest semi-annually and will be convertible, under certain circumstances and during certain times, into cash, stock or a combination, at the company’s choosing.
Click here to read the full CBSNews report.