01:53 PM EDT, 04/30/2024 (MT Newswires) -- Ivanhoe Mines ( IVPAF ) said Tuesday it plans to redeem all of its outstanding 2.50% convertible senior notes due 2026 on July 11.

The notes will be redeemed at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest on such notes to, but not including, the redemption date.

As at April 29, there was US$575 million aggregate principal amount of the notes outstanding. The company will settle any conversions solely in shares, except that any fractional shares that would otherwise be deliverable will be paid out in cash.

The company's shares were last seen down C$1.42 to C$19.20 on the Toronto Stock Exchange.

Price: 19.20, Change: -1.42, Percent Change: -6.89