By Abigail W. Adams
Portland, Me., Feb. 22 – Dynagreen Environmental Protection Group Co. Ltd. priced RMB 2.36 billion six-year convertible bonds at par with a variable coupon rate and a redemption price of 109, according to a company news release.
The convertible bonds will carry a coupon of 0.2% in year one, 0.4% in year two, 0.6% in year three, 1.5% in year four, 1.8% in year five and 2% in year six.
The initial conversion price is RMB 9.82.
Proceeds will be used to expand the company’s waste incineration power generation business and for general corporate purposes.
Dynagreen is a Guangdong, China-based waste management company.
| Issuer: | Dynagreen Environmental Protection Group Co. Ltd.
|
| Amount: | RMB 2.36 billion
|
| Issue: | Convertible bonds
|
| Maturity: | Feb. 24, 2028
|
| Coupon: | 0.2% year one, 0.4% year two, 0.6% year three, 1.5% year four, 1.8% year five and 2% year six
|
| Price: | Par
|
| Redemption price: | 109
|
| Conversion price: | RMB 9.82
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Distribution: | Regulation S
|
| Stock symbol: | HK: 1330
|
| Market capitalization: | RMB 13.73 billion
|
|
|
© 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.
