By Marisa Wong
Madison, Wis., Jan. 11 - KrisAssets Holdings Bhd. priced RM 300 million of 2.5% seven-year redeemable convertible secured bonds at 89.265, a discount to par, according to a Hong Leong Investment Bank Bhd. announcement.
The bonds will be issued on a bought deal basis. Hong Leong is the lead manager.
The bonds are convertible into new ordinary shares of KrisAssets at a conversion price of RM 3.72 per share, which represents a 12.6% premium over RM 3.3045, the volume-weighted average price of KrisAssets' shares for the five market days up to Dec. 29.
Holders may put the bonds at par beginning five years after the date of issue.
The bonds may also be repurchased at any time before maturity at any price in the open market or by private treaty.
KrisAssets is a Kuala Lumpur-based investment holding company.
| Issuer: | KrisAssets Holdings Bhd.
|
| Issue: | Redeemable convertible secured bonds
|
| Amount: | RM 300 million
|
| Maturity: | Seven years
|
| Bookrunner: | Hong Leong Investment Bank Bhd.
|
| Coupon: | 2.5%
|
| Price: | 89.265% of par
|
| Conversion premium: | 12.6%
|
| Conversion price: | RM 3.72
|
| Call: | At any time at variable prices
|
| Put option: | At par after five years
|
| Settlement date: | Jan. 11
|
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