Ezra's shareholders approve plans to issue rights issue and convertible bonds
EZRA Holdings' shareholders have approved of its plans to raise up to US$300 million through a rights issue and the issue of convertible bonds to repay existing debt.
The group expects to raise US$150 million from the rights issue and S$200 million from the convertible bonds issue.
Gross proceeds from both the rights and convertible bonds issues will be used mainly to repay its S$225 million fixed rate notes due in September this year, and its S$150 million perpetual securities, also callable in September.
Ezra's shares closed three Singapore cents lower at 26.5 Singapore cents on Tuesday, before the announcement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in