By Marisa Wong
Madison, Wis., June 11 – Newtree Group Holdings Ltd. announced it plans to issue HK$100 million of 8% guaranteed convertible bonds due 2016.
The two-year bonds will be sold at par to Fulledge Ltd.
The bonds will be convertible at HK$3.20 per share. The conversion price is a 1.59% premium over the HK$3.15 closing share price on June 11.
At maturity, the bonds will be redeemed at 124% of par.
After one year, the bonds are putable and callable at par plus a premium of 12%.
Proceeds will be used for potential acquisitions and for general working capital purposes.
The Macau-based company manufactures hygienic disposables for household and clinical use.
| Issuer: | Newtree Group Holdings Ltd.
|
| Guarantor: | Wong Wai Sing, executive director, chairman and chief executive officer of Newtree
|
| Issue: | Guaranteed convertible bonds
|
| Amount: | HK$100 million
|
| Maturity: | Two years
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | HK$3.20
|
| Conversion premium: | 1.59%
|
| Redemption: | At 124 at maturity
|
| Call option: | At 112 after one year
|
| Put option: | At 112 after one year
|
| Investor: | Fulledge Ltd.
|
| Pricing date: | June 11
|
| Stock symbol: | Hong Kong: 1323
|
| Stock price: | HK$3.15 at close June 11
|
| Market capitalization: | HK$2.37 billion
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
