BUZZ-Centrus Energy falls on planned $650 mln convertible bond deal

Reuters
08/13
BUZZ-Centrus Energy falls on planned $650 mln convertible bond deal

** Shares of nuclear fuel supplier Centrus Energy LEU.A down 6.4% post-market to $203.50 after capital raise news

** Bethesda, Maryland-based firm announces private offering of $650 mln 7-yr convertible bonds (CBs)

** It plans to use net proceeds for general purposes

** Co has $4 bln market cap, per LSEG data

** LEU shares on Tues closed down 0.8% at $217.37. YTD, stock has more than tripled

** Last week, Centrus appointed Todd Tinelli as new CFO

** Of 14 analysts covering LEU, recommendation breakdown is 9 "strong buy" or "buy" and 5 "hold" ratings; median PT of $247 up from $205 a month ago and $129 on May 12 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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