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CII: Plan for a convertible bond issue to a foreign partner
On June 28, 2010, Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) was successful in negotiating with a foreign partner on a convertible bond issue:
* Issuer: Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII)
* Total issue value: from US$20 million to US$25 million.
* Bond type: Convertible bond
* Price of shares which are converted from bonds: VND43,500/share, equivalent to 10 million CII shares (If converted).
* Share interest: 4%/year (Based on the exchange rate of US dollar at the payment time)
* Bond term: 5 years. Of which: (1) The partner has the right to convert a part or all of bonds from the second year; (2) From the third year, the partner has the right to ask CII to buy back the bonds (After an announcement six months in advance). The price to buy back bonds is the price which the partner paid to CII (in US$).
* Condition: CII has to delay the share issue which has the purpose of increasing charter capital to VND1,003 billion (Because CII issues convertible bonds to the foreign partner).
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