Grab Plans $1.25 Billion Convertible Bond Sale for Acquisitions
Grab Holdings Ltd. is planning a $1.25 billion sale of bonds convertible into stock, partly to bulk up its warchest for acquisitions amid signs that talks to take over rival delivery-and-transport provider GoTo Group have stalled.
Singapore-based Grab, whose app is ubiquitous in Southeast Asia for ride hailing and food delivery, will issue convertible bonds that mature on June 15, 2030, it said in a statement Monday. The securities will carry a coupon of as much as 0.5% a year, payable semiannually, according to terms of the deal seen by Bloomberg News.
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