Vietnam's REE to raise VND557.85 billion selling bonds to Jardine Cycle & Carriage's unit
Refrigeration Electrical Engineering Corp. (REE.VH) said Tuesday it will raise 557.85 billion dong ($26.5 million) by selling convertible bonds to Platinum Victory Pte. Ltd. in a private placement.
The company said in a statement it will sell the three-year dong-denominated bonds with an annual coupon of 6% to the unit of Jardine Cycle & Carriage Ltd.
REE said the bonds can be converted into common shares after one year, adding it will use the proceeds for investment projects.
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