[miningmx.com] – AN increase in the yield on Impala Platinum’s (Implats’) February 2018 convertible dollar note has raised concern the South African platinum producer may tap the market for funds, said Bloomberg News in an article that was republished by BDLive.
Citing Abax Investments analyst, Rashaad Tayob, the newswire said there tends to be an overhang on existing debt when there was potential for more bonds. Ayob said that the fall in the price of platinum was putting pressure on Implats.
The yield on Implats’ bond jumped 178 basis points since July 10, almost four times as much as the average rate for emerging-market metals companies in JPMorgan Chase indices, said Bloomberg News.
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