Stillwater Mining Shares Fall On Offering

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.