Vietnam Daily News

TLS plans to issue 1tr dong worth of convertible bonds

Written by Dailynews.vn Saturday, 10 December 2011 17:17

Thang Long Securities Joint Stock Co (TLS) today December 9 is to organise an extraordinary shareholders' meeting to change members of the company's director board and some other important contents.

Accordingly, TLS plans to offer one million convertible bonds at the ratio of 1:100 at the face value of one million dong per bond.

These bonds will be sold to less than 100 investors. The 5-year bond will have the coupon rate of no higher than 17 percent per annum for the first year and the detailed coupon rate will be decided by the company's director board in accordance with the market condition at the time of issuing.

The bond issuance is scheduled in the fourth quarter of this year.

The bond issue is to increase the company's working capital scale and restructure its debts.

Source: www.intellasia.net/news/articles/stock_market/111350336.shtml