By Laura Lutz
Des Moines, April 2 - Mission Biofuels Ltd. arranged a private placement of secured convertible notes for A$50 million.
Each 4% note has a par value of A$1.30, a 21% premium to the 90-day volume weighted average price of the company's shares, and is convertible into one share.
The notes mature in five years.
Based in Perth, Australia, Mission is developing a biodiesel plant in Malaysia.
| Issuer: | Mission Biofuels Ltd.
|
| Issue: | Secured convertible notes
|
| Amount: | A$50 million
|
| Maturity: | Five years
|
| Coupon: | 4%
|
| Price: | Par of A$1.30
|
| Yield: | 4%
|
| Conversion ratio: | One share per note
|
| Pricing date: | April 2
|
| Stock symbol: | Australia: MBT
|
| Stock price: | A$1.44 at close April 2
|
© 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.
