Brief: China Putian Food updates on issue of convertible bond and non-convertible note due 2018

China Putian Food Holding

28/09/2016 15:52

Sept 28 (Reuters) - China Putian Food Holding Ltd  1699.HK  
    * Issue Of Convertible Bond And Non-convertible Note Due 
2018 And Update On Proposed Redemption Of The Existing 
Convertible Bonds  
    * Net proceeds from convertible bond and note, after 
deducting expenses, are expected to be approximately hk$220.2 
million 
    * Subscription agreement in respect of subscription for and 
issue of (i) convertible bond in principal amount of hk$150 
million 
    * Subscription agreement in respect of subscription for and 
issue of he non-convertible note in principal amount of hk$110 
million due 2018 
    * Net proceeds of approximately hk$11.6 million will be 
applied for developing business of black hog farming 
    * Says on an event of default there may be occurrence of  
resignation or cessation of cai chenyang as chairman 
    * Investor and company entered into subscription agreement 
    * Net proceeds from issue of convertible bond and note will 
be applied to pay for redemption of existing convertible bonds 
 
Source text for Eikon:  ID:nHKS83VP8S  
Further company coverage:  1699.HK  
 
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