Financing ·
Sigma Lithium prices US$100M convertible bonds due 2031 to refinance secured debt
SGMLSigma Lithium Corp
Sigma Lithium Corporation announced a US$100 million offering of senior unsecured convertible bonds maturing in November 2031. The company intends to use the net proceeds to fully repay its Senior Secured Debt with Synergy Capital, which is scheduled to mature in June 2027. This transaction replaces floating-rate debt carrying a cost of SOFR plus 6.95% per annum with fixed interest payments at 7.00% per annum. The bonds carry a conversion premium of 25% and include an investor put option after three years. Sigma Lithium operates as the largest producer of industrial-mineral lithium oxide concentrate in the Americas.