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By Reuters Staff
1 Min Read
Feb 2 (Reuters) - Singapore Exchange said on Tuesday it had issued convertible bonds worth 240 million euros ($289.92 million) to institutional investors through its unit SGX Treasury I Pte Ltd.
The three-year zero-coupon bonds could be converted into ordinary shares of the company at an initial conversion price of S$13.0944 ($9.84), it said, at a 32% premium over Monday’s closing price of S$9.92.
The offer had been more than four times oversubscribed.
The Singapore bourse operator said proceeds from its maiden convertible bond issuance would be used to refinance existing debt, as well as for general corporate purposes.