On December 6, 2021, Lithium Americas Corp. closed a private placement of unsecured convertible senior notes for gross proceeds of approximately US$225 million. On December 9, 2021, the initial purchasers’ exercised their over-allotment option in full, increasing the total offering to approximately US$258 million.
Lithium Americas used a portion of the proceeds to repay in full its US$205 million senior secured credit facility.
Cassels acted as Canadian counsel for Lithium Americas.