Coronado raises to pay down debts

STRUGGLING coal miner Coronado Global Resources is completing an emergency A$250 million equity raising at 60c, well below last June’s $3.60 trading level, to reduce its debt load from $440 million and position it to rise out a period of lower demand and low coal prices.

Coronado raises to pay down debts Coronado raises to pay down debts Coronado raises to pay down debts Coronado raises to pay down debts Coronado raises to pay down debts

Coronado is preparing to ride out low prices

Coronado's operations suffered over the first six months of 2020 with a net loss of US$123 million as earnings and revenue plunged and costs rose amid the COVID-19 pandemic.

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