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Vietnam's REE to raise VND557.85 billion selling bonds to Jardine Cycle & Carriage's unit

Nov 20th at 20:10
20-11-2012 20:10:24+07:00

Vietnam's REE to raise VND557.85 billion selling bonds to Jardine Cycle & Carriage's unit

Refrigeration Electrical Engineering Corp. (REE.VH) said Tuesday it will raise 557.85 billion dong ($26.5 million) by selling convertible bonds to Platinum Victory Pte. Ltd. in a private placement.

The company said in a statement it will sell the three-year dong-denominated bonds with an annual coupon of 6% to the unit of Jardine Cycle & Carriage Ltd.

REE said the bonds can be converted into common shares after one year, adding it will use the proceeds for investment projects.

foxbusiness

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