GCL-Poly (03800.HK) Places Convertible Bonds of $200 Million to A Third Party
http://m.niumowangdai.cn/en/about/newdetail/5268.html
GCL-Poly announces the placement of convertible bonds of $200 million due in 2018, to PA International Opportunity III (an independent third party), bearing an interest rate of 0.75% at an initial conversion price of HKD 3.125, representing a premium of 21.12% over the closing price on the previous trading day. The number of convertible new shares represents 3.21% of the enlarged share capital. The raised net proceeds of $193 million will be applied as capital expenditure, and for general corporate purpose.
