Past year: ▼ 45%(12.0c – 27.5c USD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Sept 2024capital raising announcement▲ GoodMajor
Coronado launched a new $400 million secured notes offering (due 2029) to opportunistically redeem its remaining $242.3 million of 10.750% notes from the 2021 crisis-era refinancing - a sign of improved credit standing three years on.
4 May 2021capital raising announcement● NeutralMajor
Coronado priced $350 million of 10.750% Senior Secured Notes due 2026 at 98.122% of face value - a high coupon that reflected the company's weakened credit standing after a year under covenant waiver.
4 May 2021capital raising announcement▲ GoodMajor
Coronado priced the equity leg of its refinancing: $100 million via 29.26 million new CDIs offered to existing holders.
28 Apr 2021capital raising announcement▲ GoodMajor
Coronado launched a complete refinancing to escape its distressed Westpac facility: a new $350 million secured notes offering plus a new $100 million asset-based revolving facility plus at least $100 million of new equity, with proceeds earmarked to fully repay and terminate the Westpac syndicated facility that had been under covenant waiver since 2020.
17 Aug 2020capital raising announcement▼ BadMajor
With Coronado already under a covenant waiver on its Westpac facility since May 2020, lenders agreed to extend that waiver further - but only on condition the company raise new equity to pay down the facility; Coronado launched a $180 million share offering (institutional placement plus entitlement offer) to satisfy that condition and avoid the waiver lapsing.
