Banyan Tree posts Q1 loss, to raise S$50.4m in convertible bonds
The two-year bonds, which carry a coupon of 7.5% per annum, can be converted into shares at S$0.25 apiece
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Singapore
BANYAN Tree Holdings is proposing a renounceable and non-underwritten rights issue of convertible bonds to raise S$50.4 million.
This comes as the hospitality group reported a net loss of S$3.4 million for the first quarter ended March 31, overturning a profit of S$5.2 million in the same period last year.
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