Sigma Lithium prices upsized $125M bond deal to replace higher-cost debt
- Sigma Lithium (SGML) priced $125M in senior unsecured convertible bonds due 2031, upsizing the offering 25% from the planned $100M to refinance Synergy Capital debt.
The bonds carry a 7% fixed coupon, replacing the existing SOFR + 6.95% floating rate, and extend debt maturity from June 2027 to November 2031.
Proceeds will primarily repay Synergy Capital debt, reducing short-term debt by approximately 80%; remaining funds will support growth capex and general corporate purposes.
- The bonds carry a $6.51 conversion price, a 25% premium to the November 2 closing share price, with conversion generally available after 12 months.
- The company said it has repaid more than $90M in debt through cash generation since Q2 2024, reducing total debt 40% to $125M as of October 21, 2026. It has not issued equity since 2021.
- The offering is expected to close around November 16.
Recommended For You
Create Your Free Account to Keep Reading
Get the confidence to navigate an uncertain market with free breaking news and stock alerts.
KioskNews shows a cleaned-up reading view extracted from the publisher’s page — the original always lives on their site, not ours.