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Lithium Americas Corp (LAC) has announced a private placement to issue 1.75% Convertible Senior Notes due 2027. The announcement came on October 3, 2023. The transaction saw participation from new investor, Computershare Trust Company of Canada.

Details of the Convertible Senior Notes

The debenture carries a 1.75% interest rate and matures on December 31, 2027. The conversion rate of the Notes may increase with respect to conversions occurring in connection with a Make-Whole Fundamental Change. However, the last reported sale prices of the Company’s common shares were less than $34.89. This resulted in no adjustment to the conversion rate for the Notes due to the Separation.

Company Website: https://www.lithiumamericas.com

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