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Petropavlovsk gets right to buy back $53 mln bonds in gold equivalent.
Russia & CIS Business and Financial Newswire
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September 25, 2009
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Petropavlovsk gets right to buy back $53 mln bonds in gold equivalent
MOSCOW. Sept 25 (Interfax) - Petropavlovsk Plc (formerly Peter Hambro) has received the right to buy back $53 million in bonds converted into gold still in circulation, the company said in a statement.
The bondholders approved the buyback on September 24. The bonds are to be bought back by October 1.
The company placed $180 million in 7% bonds in the gold equivalent in 2007. The bondholders could at their discretion swap them for gold (180,000 ounces). The company has already ...
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