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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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Banyan Tree Bintan's kelong villa. After considering its financial position and the difficult operating environment, Banyan Tree said its directors believe the rights issue will "strengthen the group's capital base and provide additional funding for the group's cash flow needs".

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...

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