LUYE PHARMA (02186) announces the issuance of 50 million USD convertible bonds with a 5.85% interest rate due in 2025.
According to Zhitong Finance APP, LUYE PHARMA (02186) announces that all prerequisites for the issuance of the B series Bonds, totaling 50 million USD with a 5.85% interest rate and due in 2025, have been met, and the issuance of the B series Bonds has been successfully completed. The B series Bonds are expected to be listed on the New Exchange effective December 16, 2024.
The Board of Directors believes that issuing the B series Bonds can improve the liquidity of the group’s funds and replace some of the group’s short-term loans. The Board of Directors believes that the net proceeds from this issuance of the B series Bonds will reduce the group's cost of funds and improve the group's debt maturity profile.