New York, March 1 – France Bed Holdings Co., Ltd. priced ¥5 billion of five-year euro-yen convertible bonds with a 5.02% initial conversion premium, according to notices from the company.
The bonds pay no coupon and were priced on Tuesday at 103.5. They will be redeemed at par at maturity.
Nomura International plc is the bookrunner for the Regulation S sale.
Proceeds will be used to expand the service centers which support the company’s welfare equipment lending business. France Bed also plans to use ¥2 billion to buy back shares in private transactions.
France Bed is a Tokyo-based company that produces, sells and leases household beds, medical and nursing care beds, welfare equipment, other furniture, bedding accessories and similar products.
Issuer: | France Bed Holdings Co., Ltd.
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Amount: | ¥5 billion
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Issue: | Euro-yen convertible bonds
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Maturity: | March 14, 2029
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Bookrunner: | Nomura International plc
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Fiscal agent: | Mizuho Trust & Banking (Luxembourg) SA
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Coupon: | 0%
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Price: | 103.5
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Conversion premium: | 5.02%
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Conversion price: | ¥1,402
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Call: | Non-callable
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Pricing date: | Feb. 27
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Settlement date: | March 14
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Distribution: | Regulation S outside Japan
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Stock listing: | Tokyo Stock Exchange Prime Market: 7840
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Stock price: | ¥1,335 at close on Feb. 27
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Market capitalization: | ¥47.75 billion
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