COUNTRY GARDEN SOLD CNY3.6BN CONVERTIBLE BONDS
AsiaInfo Services, February, 2008
AsiaInfo Services 02-19-2008 country+garden+holdings+co+ltd[(ctryf)] Country Garden Sold CNY3.6bn Convertible Bonds FOSHAN, Feb 19, 2008 (SinoCast via COMTEX) -- Country Garden Holdings Co., Ltd. (SEHK: 2007) raised CNY 3.595 billion from selling convertible bonds. On February 15, 2008, the stock of the real estate developer suspended trading, because it sold five-year convertible bonds worth CNY 3.595 billion or about USD 500 million, with an interest rate of 2.5%, which were fully subscribed.
The underwriter is Merrill Lynch. It has brewed to expand the size to at most CNY 4.314 billion or about USD 600 million if the investors warmly embrace the sale. The initial exercising price of these bonds is HKD 9.05 to HKD 9.71, 34.9% to 44.7% high than the stock...
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