Haier Electronics shareholder to sell exchangeable bonds due 2022

By Marisa Wong

Morgantown, W.Va., Nov. 7 – Haier Electronics Group Co., Ltd. announced that controlling shareholder Qingdao Haier Co., Ltd. will issue HK$8 billion of zero-coupon bonds due 2022 exchangeable into shares of Haier Electronics.

The bonds will be issued through the controlling shareholder’s wholly owned subsidiary, Harvest International Co., and guaranteed by Qingdao Haier and Haier Shareholdings (Hong Kong) Ltd.

J.P. Morgan Securities plc is the bookrunner and global coordinator for the Regulation S deal.

The bonds are expected to be issued on Nov. 21.

Hong Kong-based Haier Electronics makes and sells washing machines and water heaters. The company is a member of Qingdao, China-based home appliance manufacturer Haier Group.

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