Sigma Lithium Announces US$100 Million 5-Year Inaugural Convertible Bond Offering; Lowering Financing Costs, Extending Debt Maturity

HIGHLIGHTSSigma Lithium announces a US$ 100 Million, five-year convertible bond offering, the Company’s inaugural convertible bond. Primary use of net proceeds: Repay Senior Secured Debt with Synergy Capital.Lowers cash interest costs enabling the Company to build operating cash flow: a fixed coupon of 7.0% p.a. replaces a floating coupon of 11.45% p.a. (SOFR, 4.5% + 6.95% p.a.)Sets a healthy conversion premium of 25% to the reference price, without conversion during the first 12 months.The…

Source: https://www.newsfilecorp.com/release/322028/Sigma-Lithium-Announces-US100-Million-5Year-Inaugural-Convertible-Bond-Offering-Lowering-Financing-Costs-Extending-Debt-Maturity