Asian Agri buys 1.75% convertible bond, funds go for working capital
By Devika Patel
Knoxville, Tenn., Nov. 19 - Asian Plantations Ltd. said it will sell a 1.75% convertible unsecured bond to Asian Agri Capital.
The $1 million bond is convertible into 313,383 ordinary shares at 201p per share, a 21.82% premium to the Nov. 18 closing share price of 165p. It matures on Nov. 18, 2014.
Proceeds will be used for general working capital purposes.
The investment holding company is based in Singapore.
| Issuer: | Asian Plantations Ltd.
|
| Issue: | Convertible unsecured bond
|
| Amount: | $1 million
|
| Maturity: | Nov. 18, 2014
|
| Coupon: | 1.75%
|
| Price: | Par
|
| Yield: | 1.75%
|
| Conversion price: | 201p
|
| Conversion premium: | 21.82%
|
| Warrants: | No
|
| Investor: | Asian Agri Capital
|
| Settlement date: | Nov. 19
|
| Stock symbol: | London: PALM
|
| Stock price: | 165p at close Nov. 19
|
| Market capitalization: | £43.81 million
|
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