LYC 0.26% $7.77 lynas rare earths limited

ann: completion of convertible bonds issue, page-5

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    They have not increased the facility size. It remains the same. They have however redeemed the $50 million first tranche and replaced them with $50 million of tranche 2 bonds. Reason not clear, though redemption of the first tranche was more restrictive than the second and it appears they were aiming ( presumably unsuccessfully )to get ASIC approval to issue tranche one bonds to retail investors. Probably were going to offer them to short day traders, I suspect.
 
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