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Article: United States : North American Palladium Announces US$50 Million Financing.
- Article from:
- TendersInfo
- Article date:
- August 18, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL)(TSX:PDL.WT)(NYSE Amex:PAL)(NYSE Amex:PAL.WS) has entered into an agreement with an agent to complete a private placement of up to US$50 million aggregate principal amount of 7% secured convertible notes of NAP (the "Notes") on a best efforts basis. The agent also has an overallotment option to place an additional US$15 million of Notes.
The Notes will mature four years from the date of issue and will be convertible, in whole or in part at the option of the holder, at any time after 90 days following the date of issue, into common shares of NAP at a conversion price of ...