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Trowers & Hamlins act on US $27m funding

Trowers & Hamlins act on US $27m funding

Trowers & Hamlins acted for existing AIM listed client Cambrian Mining plc on its fundraising of US$27,000,000 of 6.75 per cent convertible notes due May 2009.

Trowers & Hamlins acted for existing AIM listed client Cambrian Mining plc on its fundraising of US$27,000,000 of 6.75 per cent convertible notes due May 2009. The three year notes are convertible into ordinary shares of Cambrian Mining and are unsecured, unlisted and redeemable at par on maturity. Convertible debt issues of this size are relatively rare for AIM listed companies and the deal was completed despite difficult market conditions at the time.