Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Far East Consortium International Ltd. > News item |
Far East Consortium greenshoe exercised, raising convertibles to HK$755 million
New York, Nov. 29 - Far East Consortium International Ltd. said the underwriter of its recent offering of zero-coupon convertible bonds exercised the HK$98.6 million over-allotment option in full, raising the size of the deal to HK$754.6 million.
The Hong Kong-based real estate development and hotel company originally priced HK$656 million of the securities on Nov. 9 to yield 2.25% with a 34.43% initial conversion premium.
Deutsche Bank was lead manager of the sale.
Far East Consortium will use proceeds to repay loans, to expand the company's real estate development and hotel divisions and for working capital.
© 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.