Diamond Miner Outlines Refinancing Plans as Debt Maturities Loom

Diamond mining group Petra Diamonds Ltd. has announced a plan to refinance its debt after several months of negotiations with lenders.

The UK-listed miner is seeking to extend bank and bond debt coming due in January and March next year, while also looking to raise cash through a rights issue, it said in a statement Friday. The shares soared by the most since September 2020.