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Game on as Paladin proposes restructure

CHINESE firm CNNC Overseas Uranium Holdings now has clear incentive to complete the acquisition of a 24% stake in the Langer Heinrich mine after debt-laden Paladin Energy unveiled a balance sheet restructuring set to decimate shareholders but allow it to meet its financial obligations without the proposed asset sale.

Michael Quinn
Game on as Paladin proposes restructure

The restructuring would see $US362 million in debt (due between this year and 2020) swapped for $217 million of longer-dated secured and convertible bonds, and $145 million of Paladin shares priced at...

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