Implats launches dual convertible bond offerings

Platinum mining company Impala Platinum (Implats) on Thursday launched dual convertible bond offerings to enhance the company’s short-to-medium term liquidity and maintain its strong financial position. Johannesburg Stock Exchange-listed Implats, headed by new CEO Nico Muller, is offering up to R2.6-billion worth of rand-denominated unsecured convertible bonds and up to $300-million US dollar-denominated unsecured convertible bonds, with the proceeds earmarked to refinance two convertible bonds that mature next year.