News

CHINA: Tsingtao Brewery targets expansion with bond offering

Most popular

Latest sexism row is a whisky watershed

Heineken must cut costs to aid recovery - analysis

The just-drinks analyst returns

Interview - Treasury CEO Mike Clarke - Part II

How COVID has accelerated the sobriety trend

MORE

Tsingtao Brewery is looking to raise over US$200m, to invest in expansion, through a bond offering.

The Chinese company, which is 27%-owned by Anheuser-Busch, said today (31 March) that it will offer CNY1.5bn ($214m) of convertible bonds with detachable warrants. The six-year bonds will have a coupon between 0.8% and 1.5%, with the A-share warrants carrying an indicative exercise price of CNY28.32. The offer, which will open for subscription on Wednesday of this week, will be split between institutional and retail tranches, Tsingtao said.

Proceeds from the bond sale will be used to fund the construction of five new breweries in China, as well as to increase the company's present malt production capacity.

Tsingtao was given the go-ahead for the bond issuance earlier this month by the China Securities Regulatory Commission.


Related Content

Is Heineken risking too much to chase Anheuser-Busch InBev in China? - Comment

Is Heineken risking too much to chase Anheuser-Busch InBev in China? - Comment...

Carlsberg

Carlsberg "logical" choice for Asahi's Tsingtao stake - analyst...

China beer, wine demand to drop one-fifth in Q1 as coronavirus impact widens - analyst

China beer, wine demand to drop one-fifth in Q1 as coronavirus impact widens - analyst...

Premium allure tempts Sapporo back to China with Anheuser-Busch InBev

Premium allure tempts Sapporo back to China with Anheuser-Busch InBev...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?