Uranium producer Paladin Energy has raised $325 million from the first internationally marketed convertible bond by an Australian company this year. The deal, which was launched and completed after the Australian market closed yesterday, came after the company announced strong six-month earnings and coincided with an announcement that the 50-50 joint venture between Paladin and Cameco Australia had been awarded the development rights for the Angela and Pamela uranium deposits in the Northern Territory.
The news boosted the attraction of the CB and allowed it to be increased from an original $275 million by exercising the $50 million upsize option in full. However, analysts are also generally positive on the stock which offers unique exposure...
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