Intime Department Store Said to Plan $250 Million of Convertibles Due 2013
Intime Department Store (Group) Co. plans to sell as much as HK$1.94 billion ($250 million) of convertible bonds due 2013, according to a person familiar with the matter.
The notes will be priced to yield 3.5 percent to 4 percent, said the person, who asked not to be identified because the details are private. The notes will have a conversion premium of between 28 percent and 33 percent above today’s closing share price of HK$10.4, the person said.
Bank of America Corp., Morgan Stanley and UBS AG are managing the sale of the equity-linked notes, the person said.
To contact the reporter on this story: Shelley Smith in Hong Kong at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.