• Tue
  • Oct 21, 2014
  • Updated: 1:47am
BusinessCompanies
FUNDRAISING

Chinlink bond issue raises HK$300m

PUBLISHED : Tuesday, 02 September, 2014, 11:02am
UPDATED : Tuesday, 02 September, 2014, 11:02am

Chinlink International, a Hong Kong-listed interior design company, has raised HK$300 million in a bond offering.

Half of the proceeds would be used to finance acquisitions and the rest for refinancing existing debt, the loss-making company said in a filing with the Hong Kong stock exchange late on Monday.

“The company is in preliminary discussions for a potential acquisition but no concrete terms or any agreement has/have been reached,” it said in a statement.

The bond would pay an annual interest rate of 8 per cent and had a two-year maturity, Chinlink said.

The firm, which issued a profit warning in March, has the right to repurchase the bond before maturity.

Its loss widened to HK$90.3 million for the year to March from HK$22.4 million in the same period a year earlier, owing to a surge in issuance of convertible bonds.

Local brokerage firm Emperor Securities is the manager for the bond deal.

Share

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive
 
 

 

 
 
 
 
 

Login

SCMP.com Account

or