reports details of CDs quoted in US dollar
17 April 1995
Loxley Plc (LOXLEY) reported the progress of its convertible
debentures issuance in US dollar denomination. LOXLEY said it would issue
the convertible debentures worth US$85-100 million at the face value of
US$1,000 with a maturity of 10 years. The coupon rate is at 3.5%.
The conversion price is Bt500 or 10.4% above the average price of
LOXLEY shares over the preceding 30-day period.
The debenture holders have the right to redeem at the end of the 5th
year with an average yield of 8.7% a year. Meanwhile, the debenture
issuer also reserve the right for redemption during the 4th-5th year in
case that the share price is higher than the conversion price by no lower
than 40% for 30 consequtive working days as follows:
Percentage of the Face Value
- In the 4th year 123
- In the 5th year 131
The offering period is during April 20-May 20, 1995.
Translated by The Nation