By Evan Weinberger
New York, Jan. 24 - Urban Corp. priced ¥50 billion in zero-coupon bonds in euro-yen convertible bonds due Feb. 8, 2011 with an initial conversion premium of 9.9%.
Deutsche Bank's London branch is the bookrunner of the Regulation S transaction.
There is a ¥10 billion over-allotment option.
The convertibles were offered at 102.5%.
The settlement date is Feb. 8.
The convertibles have a conversion price of ¥1,061 and a conversion ratio of 9.4%.
The convertibles are callable between July 7, 2009 and Jan. 24, 2011 subject to a 140% hurdle.
There is fundamental change protection and a negative pledge.
Urban is a Hiroshima, Japan-based real estate company. Urban plans to use the proceeds for property development, to pay down debt and for general corporate purposes.
Issuer: Urban Corp.
Issue: Euro-yen convertible bonds
Amount: ¥50 billion
| Greenshoe: | ¥10 billion
|
| Maturity: | Feb. 8, 2011
|
| Coupon: | 0%
|
| Price: | 102.5
|
| Conversion premium: | 9.9%
|
| Conversion price: | ¥1,061
|
| Conversion ratio: | 9.4
|
| Call: | Between July 7, 2009 and Jan. 24, 2011 subject to 140% hurdle
|
| Bookrunner: | Deutsche Bank London branch
|
| Distribution: | Regulation S
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 8
|
© 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.
