Sound Global greenshoe exercised, ups convertibles to RMB 885 million

By Marisa Wong

Madison, Wis., Sept. 7 - Sound Global Ltd. said the underwriters of its recent offering of dollar-settled 6% convertible bonds due 2015 exercised the RMB 205 million upsize option in full, increasing the total size of the offering to RMB 885 million.

Sound Global initially issued RMB 680 million of five-year convertibles at par on Aug. 19 to yield 6% and with an initial conversion premium of 20%.

Morgan Stanley Asia (Singapore) Ptd. is the manager.

The settlement date is expected to be Sept. 15.

Proceeds will be used primarily for the expansion of production capacity, working capital and general corporate purposes.

Sound Global provides water and wastewater treatment solutions and has offices in Beijing and Singapore.

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