Varitronics in note issue
HONG Kong-listed Varitronix International will sign an agreement today to issue 50 million Swiss francs (about HK$261 million) of US$-Swiss franc, dual-currency convertible notes.
The issue, which is underwritten by Schroders, will be a private placement to institutional investors in Switzerland.
The notes will be convertible into Varitronix shares at an initial conversion price of $11.40, from February 28, 1994 until June 19, 2000.
They will carry an interest rate of 21/8 per cent a year and mature on June 30, 2000.