REE to issue convertible bonds to Platinum Victory
Refrigeration Electrical Engineering Corporation (REE) signed a convertible bond subscription agreement with Platinum Victory Pte. Ltd., a subsidiary of Cycle & Carriage Limited (JC&C) – a Singapore’s leading listed company and a member of Jardine Matheson Group.
- After receiving the approval from authorities, REE will issue VND557,846,000,000 convertible bonds to Platinum Victory Pte. Ltd. in order to raise funds for REE’s projects.
- The bond issue will be executed with main contents as follows:
+ Issuer: Refrigeration Electrical Engineering Corporation (REE)
+ Bond type: convertible bond
+ Currency unit: VND
+ Total par value of bonds: VND557,846,000,000
+ Bond interest: 6%/year
+ Bond term: 03 years
- After each year, bonds will be automatically converted into shares when the foreign room for REE stock is available.
- Conversion price: VND22,000/share
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