Stillwater offers $300 million in senior notes to fund Peregrine acquisition

Andrew Topf | September 19, 2011 | 6:43 pm Europe 
Flood of buying pushes Montana PGM miner to near 3-year high

Stillwater Mining Company (TSX:SWC.U) is offering $300 million in senior notes to help fund its acquisition of Peregrine Metals Ltd., the company announced today.

Stillwater, the only platinum and palladium producer in the U.S., bought Peregrine Metals in July for US$487.1 million.

The company has mining operations at the Stillwater Mine near Nye, Montana and the East Boulder Mine South of McLeod, Montana. It also processes spent catalyst material at one of its smelter and refinery plants.

Peregrine Metals (TSX:PGM) is an exploration and development company with gold and copper projects in Argentina and Peru.

Photo of the Stillwater Mine in Nye, Montana courtesy of Stillwater Mining Company.

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