Asia
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.
SHE:300697
