Hanoi Housing Investment and Development Joint Stock Co No 22 (Handico 22) on October 10 announced that it would issue 1.405 million convertible bonds at 100,000 dong par to the company’s existing shareholders, in two phases.
For the first phase, 800,000 bonds will be issued on December 1, 2008 and another 605,000 bonds and the remaining shares of the first phase (if any) will be issued in the second quarter of 2009.
The two-year bonds carry a coupon rte of 3.6% per annum (calculations based on the face value of convertible bonds),
The bond issue will use the list of shareholders closed on September 22, 2008.
The conversion ratio is 1:10 i.e. one bond at 100,000 dong par will be converted into 10 shares with the par value of 10,000 dong each.