As such, Pangilinan said MPIC could issue exchangeable bonds
to start raising funds for its hospital arm Metro Pacific Hospital Holdings Inc.
Pangilinan told reporters that the first part of the sell-down will be to offer exchangeable bonds
and to follow shortly after that will be an initial public offering (IPO) of MPHHI at the Philippine Stock Exchange.
Consequent to this, the full exchange of its two issues of mandatory exchangeable bonds
secured by shares in Anglo American Plc will settle on August 12.
The sale follows Volcan's announcement it plans to call its two issues of mandatory exchangeable bonds
, which will be settled with shares.
announced the placement of cash-settled exchangeable bonds
due 2021 (the "Bonds") in aggregate principal amount of USD 205,000,000.
According to WIND, the Company's lead equity underwriting amount (including initial public offering, follow-on offering, rights issue, preferred shares, convertible bonds and exchangeable bonds
) reached RMB82.95 billion, ranking third in the industry.
Transocean then settled the compulsory acquisition by delivering consideration shares, exchangeable bonds
and cash consideration, as applicable, to Songa Offshore shareholders.
Transocean expects to settle the compulsory acquisition with the delivery of Consideration Shares, Exchangeable Bonds
and cash consideration, as applicable, to Songa Offshore shareholders on or about March 28.
Convertible and exchangeable bonds
are unique and highly flexible forms of corporate financing that can be an attractive option for companies seeking to raise money or monetise equity stakes.
They can use convertible bonds (or more specifically, exchangeable bonds
) as an instrument to divest or reduce their shareholdings.
This paper focuses on the use of a particular type of the convertible bonds during the privatization process, namely the exchangeable bonds
. The issues of such instruments are dominated mainly by the companies from the private sector.