First Majestic Silver slips after $300 mln convertible bond sale

First Majestic Silver

04/12/2025 11:54

** U.S.-listed shares of Canadian miner First Majestic Silver AG.N down 1.5% to $15.45 before the bell after debt-refinancing capital raise

** AG late Weds announced pricing private offering of $300 mln 0.125% convertible bonds (CBs) due 2031

** Initial conversion price set at $22.36, a 42.5% premium to shares last close of $15.69

** AG's U.S.-listed shares on Weds closed down 1.4% after co launched the offering to repurchase a portion of its $230 mln outstanding 0.375% CBs due 2027, among other purposes

** Through Weds, shares up ~186% YTD

** Meanwhile, spot silver XAG= down nearly 2% on Thurs as investors look ahead to next week's U.S. Fed meeting GOL/

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))