SHE:300697

2 stories mentioning SHE:300697Updated 56d ago

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Jiangyin Electrical Alloy Seeks Up to 545 Million Yuan from Convertible Bond Issuance

Jiangyin Electrical Alloy (SHE:300697) is looking to raise up to 545 million yuan from the issuance of 5.45 million convertible corporate bonds, according to a Thursday disclosure to the Shenzhen bourse.The bond issuance will allow existing shareholders to subscribe for 1.2597 yuan face value convertible bonds per share while online investors will be eligible to bid for up to 10,000 bonds per account by Aug. 3.

SHE:300697

Asia58d ago

Jiangyin Electrical Alloy to Issue 545 Million Yuan in Convertible Bonds

Jiangyin Electrical Alloy (SHE:300697) plans to issue convertible bonds worth 545 million yuan, according to a Shenzhen bourse filing Tuesday.The convertible bonds will have a term of six years from July 30, 2026 to July 29, 2032.Coupon rates for the first year is 0.20% and will rise every year until the sixth year, when the coupon rate is 2%.Proceeds from the issuance will be used for a 35,000-ton copper alloy materials manufacturing base, as well as for the supplementation of the company's working capital and payment of debt.The Chinese copper alloy manufacturer's shares rose 3% at the close.

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