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The bonds will have a coupon of 5.75% per annum payable semi-annually, and the initial conversion price is set at a premium of 35% to the clearing price of the placing.
The 295 pence price is a 10.6% discount to Tuesday's close of 330 pence. The new shares represent about 9.99% of Hochschild's issued ordinary share capital.
Hochschild's shares Wednesday closed down 31 pence, or 9.6%, at 298 pence in a flat mining sector after announcing the capital raising. The FTSE350 mining index was down 0.1%.
Company Web site: www.hochschildmining.com
-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com
(END) Dow Jones Newswires
10-08-09 0216ET
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