- Petropavlovsk has announced the placement of $125m of guaranteed convertible bonds due 2024 to be issued by Petropavlovsk 2010 Limited.

The $25m increase option has been exercised in full. Concurrently with the issue of the bonds, the issuer also concluded the previously announced invitation to repurchase any and all of the outstanding $100m 9.00% convertible bonds due 2020 issued by the issuer and guaranteed by the company.

CEO Dr Pavel Maslovskiy said: 'I am pleased to report that our new convertible bond offering has been met with strong interest by the market, resulting in a significantly oversubscribed book of demand from a range of investors, which I believe highlights the attractiveness of the Petropavlovsk investment case.'

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