Blumont receives $200m injection to support Discovery Metals investment
Blumont Group has received $200 million in new funding from New York-based investment firm Platinum Partners, half of which will be used to buy convertible bonds in Australian copper miner Discovery Metals, previously a target of Chinese private equity group Cathay Fortune Corporation (CFC).
Singapore-listed Blumont said in a regulatory filing that it would issue bonds to Platinum in four equal tranches of $50 million each with a coupon rate of 8% per annum and a conversion price of S$0.20-0.40...
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