Lynas to Sell Shares, Defer Debt After Rare Earths Slump
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Lynas Corp., which spent about A$1 billion ($930 million) on a rare earths processing plant in Malaysia, plans to defer some debt repayments and sell as much as A$40 million in shares after prices slumped.
The producer of elements used in cruise missiles to iPads will seek to sell A$30 million of shares to existing holders and A$10 million in an institutional placement, Sydney-based Lynas said today in a statement. It will also delay repayments on $215 million of outstanding loans to Tokyo-based Sojitz Corp. to June