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Yongda Auto Plans to Issue CNY1bn Convertible Bonds

June 25, 2014

HONG KONG, June 25, SinoCast -- China Yongda Automobiles Services Holdings Ltd. (SEHK: 3669) proposes to issue CNY 1 billion US dollar-settled convertible bonds. Initial conversion price is HKD 7.958 each, representing premium of 15.33% from previous trading-day closing price. If the bonds are converted at the price, the shares will account for 9.66% of the expanded capital stock.

Net proceeds, about CNY 977 million, will be used for the acquisition of 4S stores and operating capital. DBS is the sole global coordinator. DBS and UBS are the co-lead managers.

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Source: Sinocast Transportation Beat (China)

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