BUZZ-Silvercorp slides on convertible debt deal launch

Reuters11-20 05:39

** U.S.-listed shares of Silvercorp Metals down 16.1% to $3.40 post-market as Canadian mining co looks to raise capital ** Vancouver-based firm commences $130 mln 5-yr convertible bond deal ** It plans to use net proceeds for construction of copper-gold mining projects outside of China, for exploration/development of other projects and for working capital

** SVM shares on Tues closed down 1% at $4.05, trimming YTD gain to 54%

** Co has roughly $878 mln market cap, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper.thomsonreuters.com@reuters.net lance.tupper@tr.com 1-646-279-6380))

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