Largo Shares Rise as Debt Deal Defuses September Refinancing Bottleneck

By Adriano Marchese

Largo shares rose after the company eliminated an immediate refinancing bottleneck, restructuring its bank debt that was coming due in September.

Shares traded 11% higher in Toronto at 1.01 Canadian dollars (73 U.S. cents).

The vanadium producer said late Thursday that it has signed a binding agreement with a syndicate of major Brazilian banks, including Banco do Brasil and Banco BTG Pactual, to restructure about $82.2 million of outstanding debt, extending the final maturity to March 2030

Under the revised terms, principal payments will be subject to a six-month grace period, followed by three years of quarterly principal amortization, while interest will be paid monthly.

Largo said that the new financing structure provides it with more time to execute its operational plans and unlock value from its existing operations at the Maracas Menchen mine.

Currently, it is also focused on ramping up its copper-platinum-group-metals concentrate production and sales as well as preparing to make its first shipment of high-purity vanadium pentoxide to the U.S. Defense Logistics Agency as part of its first order worth $60 million.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

August 21, 2026 11:29 ET (15:29 GMT)