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ANTA SPORTS Proposes to Issue EUR1.5B CBs
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ANTA SPORTS (02020.HK) announced that it proposed to repurchase EUR1 billion zero coupon guaranteed convertible bonds due 2025. At present, the total principal amount involved is EUR946 million. The remaining outstanding Existing Convertible Bonds amount is approximately EUR54.5 million. In addition, its direct wholly-owned subsidiary ANLLIAN Capital 2 proposed to issue EUR1.5 billion zero coupon guaranteed convertible bonds due 2029. The initial Conversion Price is HK$104.02 per Share, representing a premium of approximately 35% over the closing price of HK$77.05 per Share as quoted on the Hong Kong Stock Exchange yesterday (26th). The New Bonds will be convertible into 118 million Shares, representing approximately 3.99% of the issued share capital of the Company as enlarged by the issue of the Conversion Shares. The net proceeds from the issuance of the New Bonds will be approximately EUR1.487 billion. The estimated net proceeds will be used for settlement of the Repurchase. The Company is of the view that the proposed New Bonds Issue can provide the Company with additional funding at lower cost to refinance its existing debt and to optimize its debt maturity profile, to further strengthen the working capital for the Company, as well as potentially enhance the equity base of the Company. AAStocks Financial News |
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