trending Market Intelligence /marketintelligence/en/news-insights/trending/EVAdlFgnHNls2KxEmkue7Q2 content esgSubNav
In This List

Largo Resources cuts senior debt by 18% through US$8.1M note buyback

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices


Largo Resources cuts senior debt by 18% through US$8.1M note buyback

Vanadium miner Largo Resources Ltd. agreed to buy back and retire an additional US$8.1 million of its 9.25% senior secured notes due in 2021.

The company said Jan. 9 that the remaining outstanding amount will be about US$37 million, representing a further decrease of about 18% of its current outstanding notes.

CEO Mark Smith said this buyback represents a significant decrease of about 75% of the company's total outstanding notes since May 2018.

The buyback is expected to be effective Jan. 28.

In December 2018, the company spent US$51.2 million to repurchase US$47.8 million of the notes, reducing the outstanding amount to US$45 million.