Fufeng in convertible bond offering

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    clpstaff &clp articles

    Fufeng Group (Fufeng), a PRC-based manufacturer of glutamic acid, MSG and xanthan gum has mad an international offering of convertible bonds on the Mainboard…

    Fufeng Group (Fufeng), a PRC-based manufacturer of glutamic acid, MSG and xanthan gum has mad an international offering of convertible bonds on the Mainboard of the Singapore Exchange. Fufeng is listed on the Hong Kong Stock Exchange.

    It issued Rmb820 million US dollar-settled 4.5 percent convertible bonds due to mature in 2015. Additionally there was an option to issue a further Rmb205 million US collar-settled 4.5 percent convertible bonds. The joint lead managers were Citi and RBS and as part of the offering, they borrowed shares in Fufeng from the majority shareholder.

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