By Abigail W. Adams
Portland, Me., Feb. 24 – Park24 Co., Ltd. issued ¥35 billion 0% convertible bonds due 2028 on Friday, which it priced on Feb. 9 at par with an initial conversion premium of 15.04% in a Regulation S offering, according to a company news release.
The bonds are listed for trade on the Singapore Exchange.
Proceeds will be used to repurchase and cancel the company’s 0% convertible bonds due 2025.
Park24 is a Tokyo-based operator of automated parking garages and a parking service.
| Issuer: | Park24 Co., Ltd.
|
| Amount: | ¥35 billion
|
| Issue: | Convertible bonds
|
| Maturity: | 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | 0%
|
| Conversion premium: | 15.04%
|
| Conversion price: | ¥2,478
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 24
|
| Distribution: | Regulation S
|
| Stock symbol: | TYO: 4666
|
| Stock reference price: | ¥2,154
|
| Market capitalization: | ¥329.27 billion
|
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