Weimob Plans Sale of $90 Million 7.5% Convertible Bonds

MT Newswires Live08-30

Weimob (HKG:2013) plans to issue $90 million worth of guaranteed convertible bonds to refinance existing indebtedness, according to a Friday filing with the Hong Kong Exchange.

The convertible bonds will carry a 7.50% coupon rate and mature in April 2029. The hybrid securities, to be listed in Hong Kong, will have an initial conversion price of HK$1.30 per share.

The disclosure said the denomination of each bond shall be $200,000, and the debts will be issued on Sept. 5.

Concurrently, the cloud-based marketing solutions provider intends to repurchase its convertible bonds listed in Singapore.

Price (HKD): $1.28, Change: $+0.060, Percent Change: +4.92%

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