YTL to issue up to US$400m exchangeable bonds

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YTL to issue up to US$400m exchangeable bonds

In The Edge Financial Daily Today 2010

Written by Financial Daily

Friday, 12 March 2010 11:44

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SINGAPORE: Malaysian conglomerate YTL Corporation Bhd is planning an issue of up to US$400 million (RM1.3 billion) worth of five-year bonds that can be exchanged into ordinary YTL shares, according to a term sheet seen by Reuters.

The exchangeable bonds, which mature in 2015, will pay a coupon of 1.375% to 1.875%. YTL plans to issue US$350 million worth of the bonds with an option to increase the issue by another US$50 million.

The bonds’ strike price will be 20%-25% above the share’s closing price of RM7.48, the term sheet said. The stock rose five sen to RM7.48 yesterday with 525,500 shares done. — Reuters

This article appeared in The Edge Financial Daily, March 12, 2010.

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Last Updated on Friday, 12 March 2010 11:45

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