Thanh Cong apparel firm to issue 1tr dong of convertible bonds

Tuesday, May 6, 2008
Thanh Cong Garment and Textile Joint Stock Co recently announced that it plans to issue one trillion dong of convertible bonds separately to mobilise investment capital for its realty projects from 2008 to 2010 with the total volume of 10 million three-year bonds and the coupon rate of 12% per annum.
The convertible rate in the first year will be 1:3 or one bond will be converted into three ordinary shares, the rate will be 1:2 in the second year and 1:1 in the third year.
These bonds will be issued to both domestic and foreign individual and institution investors.
Creditors owning from 15,000 convertible bonds and higher will receive preferential rights in buying apartments in the company's realty projects.