TerraCom launches A$63m refinancing

Coal miner TerraCom on Friday unveiled a A$63-million capital restructure, consisting of a A$35-million capital raise and a $20-million convertible bond.

The ASX-listed company would raise some A$35-million through an entitlement offer, priced at 58c a share, under which eligible shareholders would be entitled to apply for three new shares for every 20 shares held.