Fufeng (HKG:0546) Announces Completion of Issue of RMB975 Million RMB Denominated USD Settled 3.0% Convertible Bonds Due 2018.
For the deal, the Company appointed J.P. Morgan as Sole Global Coordinator and Joint Bookrunner, Standard Chartered Bank as Joint Bookrunner and China Galaxy International Securities (Hong Kong) Limited as Co-Manager.
Based on the initial Conversion Price of HK$4.173 and assuming full conversion of the Bonds at the initial Conversion Price, the Bonds will be convertible into 297,114,448 Shares, representing approximately 12.46% of the enlarged issued share capital of the Company.
The Company is expected to receive net proceeds in the amount of approximately US$155 million from the Issue of the CBs. The Company intends to use the net proceeds for the repayment in full of the existing syndicated loan and general corporate and working capital purposes.
About Fufeng Group Limited:
Fufeng Group (HKG:0546), the world's largest MSG and xanthan gum producer and supplier, uses fermentation technology to produce biochemical products. Its major products include MSG and xanthan gum products. Fufeng also produces fertilisers, corn refined products, starch sweeteners and amino acid products. For further information, please visit the Company website: www.fufeng-group.com .
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|Date:||Nov 28, 2013|
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