Tuesday May 13, 8:13 AM
Alumina to raise $300 mln in convertible bonds
SYDNEY, May 13 (Reuters) - Australia's Alumina Ltd
said on Tuesday it has launched an offer to raise about $300
million in convertible bonds, with the proceeds to be used to
repay debt and fund investment in existing growth projects.
Shares in Alumina, a 40 percent partner in the Alcoa World
Alumina and Chemicals (AWAC) joint venture in which Alcoa
holds 60 percent, were placed on trading halt earlier on
Tuesday pending an announcement on the raising.
(Reporting by James Thornhill)
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