By Aaron Hochman-Zimmerman
New York, May 22 - FerroChina Ltd. priced a $75 million reopening of its 13.5% bonds due 2011 with warrants, according to a press release.
The retap was priced at par to yield 13.5%.
The total issue is now $130 million.
A warrant will be issued for each $2 of bonds purchased and can be redeemed for one share of common stock at the exercise price of S$1.68.
Proceeds will be used for general working capital.
The original $55 million was priced on March 31.
The Ferro China is a Changshu, China-based steel producer.
| Issuer: | FerroChina Ltd.
|
| Amount: | $75 million
|
| Issue: | Three-year bonds with warrants
|
| Maturity: | March 31, 2011
|
| Coupon: | 13½%
|
| Warrants: | Redeemable for one share; one per $2 principal amount
|
| Pricing date: | May 22
|
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