China's Midea seeks $2.2 billion in bond sales to lift offshore liquidity
Chinese home appliances maker Midea Group (000333.SZ), opens new tab, said on Thursday that it seeks to raise HK$17.25 billion ($2.20 billion) through two bond issuances in a bid to enhance offshore liquidity, among other requirements, News.az reports, citing Reuters.
Here are a few details.
The issuances are likely to mature in 2027 and 2033, respectively, with each issuance having an aggregate principal amount of HK$8.62 billion.
The initial conversion price of the 2027 bonds is HK$96.82 per H Share, while the 2033 bonds have an initial conversion price of HK$115.76 per H Share.
The dual-listed firm said the bond issues aim to reduce financing costs and raise further working capital.
Midea intends to list the bonds on the Vienna MTF, operated by the Vienna Stock Exchange.
($1 = 7.8345 Hong Kong dollars)
By Faig Mahmudov
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