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Article: DAPHNE, TPG ESTABLISH PARTNERSHIP
- Article from:
- AsiaInfo Services
- Article date:
- May 28, 2009
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AsiaInfo Services
05-28-2009
Daphne, TPG Establish Partnership
SHANGHAI, May 28, 2009 (SinoCast Daily Business Beat via COMTEX) -- Daphne International Holdings Limited (0210.HK) just announced that TPG Capital has agreed to subscribe for CNY 550 million worth of exchangeable non-guaranteed bonds of the company.
Pursuant to the agreement of the two, the coupon rate is fixed at 3.125%. TPG as the strategic investor could convert these bonds into ordinary shares of Hong Kong-listed Daphne, with the exchange price of HKD 3.5 per share. Once TPG exercises the right to exchange such bonds into ordinary shares, the investor would take 278,510,572 shares of the target company, accounting for 14.5% ...