Global New Material International (HKG:6616) completed the issuance of 1.3 billion yuan of HKD-settled 3.25% convertible bonds due 2027, according to a Thursday Hong Kong bourse filing.
The company also completed the concurrent repurchase of HK$990 million of its 2026 convertible bonds, representing 99% of their initial principal amount.
The net proceeds of about 1.28 billion yuan will be used primarily to refinance existing indebtedness, including the concurrent repurchase, with the remainder allocated to working capital and general corporate purposes.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments