On August 28, 2024, Fe Horizon (03360.HK) announced that it had entered into a subscription agreement with joint lead managers, to extract and issue promissory notes on September 5, 2024, with a total face value of 0.55 billion US dollars, exempted from registration requirements under securities laws. The promissory notes are denominated in US dollars.
The net proceeds from the planned offering will be used for working capital and general corporate purposes. Upon obtaining all necessary approvals from relevant Chinese government authorities, the proceeds may also be transferred to the Company's subsidiaries in China through intercompany loans.
The Company has applied to the Stock Exchange for approval to list and trade the promissory notes, which will be issued only to professional investors. The trading of the promissory notes is expected to be effective on or around September 6, 2024.
