HKG:3800

2 stories mentioning HKG:3800Updated 44d ago

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GCL Technology Unit Raises $148 Million via Debt Offering

GCL Technology (HKG:3800) unit GCL Solar Star Investment completed a $148 million debt offering, the firm said in a Hong Kong filing Thursday.The solar materials manufacturer's shares were down over 2% in late morning trade Friday.The unit sold 6.95% guaranteed convertible bonds due 2027 that can be exchanged for shares of GCL Technology at an initial rate of HK$1.21 per conversion share.Assuming full conversion, the bonds would net 958.6 million GCL Technology shares, representing 2.80% of the business on an enlarged basis.The convertible bonds were listed in Vienna.Proceeds from the debt offering will be used for general corporate purposes and repayment of debts, GCL Technology said.

HKG:3800

Asia55d ago

GCL Technology Unit to Raise $148 Million via Debt Offering

GCL Technology (HKG:3800) said its GCL Solar Star Investment unit plans to raise $148 million via a debt offering, according to a Hong Kong bourse filing Wednesday.The solar materials manufacturer's shares were down over 4% in late morning trade Thursday.The issue involves the sale of 6.95% guaranteed convertible bonds due 2027 that can be exchanged for shares of GCL Technology at an initial rate of HK$1.21 per conversion share.Assuming full conversion, the bonds would net 958.6 million GCL Technology shares, representing 2.80% of the business on an enlarged basis.The convertible bonds are planned for listing in Vienna.Proceeds from the debt offering will be used for general corporate purposes and repayment of debts, GCL Technology said.

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