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CII: Goldman Sachs Investment Partners invests in CII
Ho Chi Minh City Infrastructure Investment Joint Stock Company (HOSE: CII) has informed of issuing stock to a foreign partner:
On November 18, 2010, CII signed an investment contract with Goldman Sachs Investment Partners, an investment fund managed by Goldman Sachs Asset Management. Goldman Sachs Asset Management is an asset management division of the Goldman Sachs Group, now managing US$802 billion, reported on June 30, 2010.
CII will issue convertible bonds worth US$25 million to Goldman Sachs Investment Partners to finance CII’s projects. CII is also preparing to ballot shareholders on allowing Goldman Sachs Investment Partners to invest another US$15 million.
Thien Viet Securities Joint Stock Company (TVS) is the consulting company for CII in this bond offering.
Main contents of the bond offering:
- Issuer: Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII)
- Bond type: convertible bond
- Face value: US$500,000 and multiples of US$100,000 if exceeding this face value.
- Offering price: 100% face value
- Term: 05 years
+ From the second year, bondholders can convert bonds into shares.
+ From the third year, bondholders can ask CII to buy back bonds, with a six-month notice. The repurchased bonds are not re-issued.
- Total offering value: US$25,000,000.
- Interest rate: 4%/year
- Conversion price: VND43,500/share
- Offering method: A private offering.
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