North American Palladium Announces Recapitalization Transaction

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Go back to North American Palladium Announces Recapitalization Transaction

North American Palladium (PAL) Announces Recapitalization, Strategic Review to Solicit Interest in Sale

April 15, 2015 8:40 AM EDT

North American Palladium Ltd. (NYSE: PAL) announced today that, following discussions with Brookfield Capital Partners Ltd, the Company has entered into an agreement with Brookfield aimed at significantly reducing the Company's debt and enhancing the Company's liquidity (the "Recapitalization").

The Company has retained CIBC World Markets Inc. to act as its financial advisor in connection with the Recapitalization and to conduct a strategic review process to solicit interest in a sale of the Company. The Company has until June 30, 2015 to obtain a superior proposal to the Recapitalization, with closing to occur within a... More