Thailand's Property Perfect may issue up to $35 million convertibles

New York, Sept. 20 - Property Perfect PCL said its board has approved the sale of up to $35 million of convertible bonds.

The securities may also be sold in the company's local currency, in which case the limit is Thai baht 1.48 billion.

Shareholders approved the issuance at a meeting on Monday.

The convertibles can have a coupon of up to 4% and a conversion premium of at least 20%. The maturity will be up to five years.

Property Perfect is a Bangkok, Thailand-based homebuilder operating in the Bangkok area.

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