Financing ·
Issues $180M GFL convertible debenture, reports Q3 net income of $13M
LARLithium Argentina AG
Lithium Argentina AG issued a $180 million unsecured convertible debenture to Ganfeng International Co. Ltd., bearing interest at 4.0% per annum and maturing in September 2032. The company reported third-quarter net income of $13 million, or $0.08 per share, driven by a $51 million share of income from its Cauchari-Olaroz joint venture operation. Cash balances rose to $312 million as the firm continues to advance plans for a secondary listing on the Australian Securities Exchange and repurchased approximately $198 million of existing convertible notes subsequent to quarter-end. The company operates lithium brine projects in Argentina.