06:50:17 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Iamgold Corp
Symbol IMG
Shares Issued 478,961,679
Close 2022-09-19 C$ 1.60
Market Cap C$ 766,338,686
Recent Sedar Documents

FP/wire say Taseko, others seen as "debt monsters"

2022-09-19 07:39 ET - In the News

See In the News (C-TKO) Taseko Mines Ltd

The Financial Post reports in its Saturday, Sept. 17, edition that seven Canadian businesses have made a list of global companies that debt markets appear to be concerned about as central banks raise interest rates to tackle inflation. The Post's Naimul Karim and Denise Paglinawan write that the list was compiled by the U.K. based Financial Times. Dubbed the "debt monsters in the downturn," the report lists just over 200 companies and includes Canadian miners Iamgold, New Gold and Taseko mines as well as other Canadian firms such as Telesat, Gran Tierra Energy, Ensign Energy Services and Husky III. To assemble the list, the FT screened Ice's Global High Yield index for companies with debt trading more than 10 percentage points or 1,000 basis points (bps) above government bonds, as of Sept. 9. A wider yield spread can indicate that the market perceives a greater risk of default associated with a bond issue. "Scores of debt-laden companies suddenly face the uncomfortable prospect of trying to service higher interest bills with crimped cashflows," the FT report said, though it cautioned that making the list, which did not account directly for the volume of debt each company carried, was not a death sentence.

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