(30-10-2014, 12:27 AM)CY09 Wrote: Hi portuser,
I will like to enquire how much must sino pay to bondholders if there is no ipo under a) Sino puts in effort to list but fails and b) Sino puts in no effort to list by 30 June 2015
My gut feel is that garden fresh may not be listed by then. And the recent proceeds are cash to raise for redemption
Vested
There are now 80.5 m 2011 bonds and 270m 2012 bonds.
The penalty interest rates for the two bonds are:
…………………………………………….…………......2011 bonds……………..2012 bonds
Listing fails despite effort being made……..15%...........................15%
No effort being made to list
by 30 June 2015………………………………….…….25%............................20%
If bond holders redeem on 30 June 2015, the approximate amounts will be:
…………………………………………….……...........2011 bonds…….…..2012 bonds
Listing fails despite effort being made…RMB 140m...............RMB 390m
No effort being made to list
by 30 June 2015……………………………….….RMB 180m................RMB 450m
If Garden Fresh has not faked its sales, Sino may, with the reported high profit , borrow some money to pay off.