Pavillon to issue 3-year, 5% convertible bonds to pay for Johor Baru properties
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Singapore
MAINBOARD-LISTED Pavillon Holdings on Friday said it will pay the remaining RM29.9 million (S$9.84 million) for its Johor Baru properties acquisition by issuing three-year convertible bonds, at 5 per cent interest per annum.
Interest will be payable every six months, and the bonds will have a conversion price of RM0.3025 per share. This price represents an initial conversion premium of 108 per cent against Pavillon's closing price of S$0.048 a share on Dec 22.
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