Logistic firm plans convertible bond issue

Transforwarding Warehousing Corp (TMS) this year plans to issue 2-year convertible bonds worth VND100 billion (US$4.8 million) with the maximum interest rate of 15 per cent per year.

The company also announced it will convert 67,250 convertible bonds it issued in 2010 on June 14 and next Monday is the deadline for bondholders to register their conversion.

Also due to the economic difficulties and bottle-neck in credit access, TMS decided to cancel its initial plan of issuing 4 million shares to raise investments for equipment and warehouse in HCM City

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