Endeavour Silver dips after unveiling planned $300 mln convertible bond offering

ING Groep NV

01/12/2025 12:44

** U.S.-listed shares of Endeavour Silver Corp EXK.N down 2% before the bell at $9.73 as Canadian miner looks to raise capital

** Endeavour announces private offering of $300 mln convertible bonds due 2031

** It intends to use net offering proceeds to repay its debt facility with ING Capital and Societe Generale to fund advancement of its Pitarrilla project in Mexico, and for general corporate purposes, including strategic opportunities

** Endeavour has nearly $3 bln market cap, per LSEG data

** U.S.-listed EXK shares had been up >2% premarket, tracking rise of spot silver XAG= to a record high GOL/

** Through Fri close, EXK shares surged about 40.5% amid a five-session winning streak, putting them up 171% YTD

** All 7 analysts rate shares "buy" with $9.22 median PT - LSEG

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

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