Silvercorp Metals (SVM) launched a private placement of $130 million of convertible senior notes due Dec. 15, 2029.
The initial purchasers of the notes probably will get an option to acquire up to an additional $20 million of notes, the company said Tuesday in a statement.
Silvercorp intends to use the net proceeds to construct copper-gold mining projects outside of China, among other things.
The company's shares fell 16% in after-hours activity.
Price: 3.40, Change: -0.65, Percent Change: -16.05
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