Uranium miner Paladin Energy Limited (ASX:PDN) will issue $US225 million in convertible bonds with the option to upsize to $US275 million in order to fund a buy back of older convertible bonds due in March next year.
The company says any amount not applied to the tender offer, will be used to strengthen its balance sheet and pursue future growth opportunities.
Paladin’s key projects in Africa are the Langer Heinrich and Kayelekera mines.
In the first half of the 2012 financial year, Paladin Energy generated a net loss of $138.7 million.
