Latest news with #convertiblebonds
South China Morning Post
39 minutes ago
- Business
- South China Morning Post
Grab to sell US$1.25 bln in convertible bonds to fund purchases as GoTo takeover stalls
Grab Holdings is planning a US$1.25 billion sale of bonds convertible into stock, partly to bulk up its war chest 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 on Monday. The securities will carry a coupon of as much as 0.5 per cent a year, payable semiannually, according to terms of the deal seen by Bloomberg News. Grab joins the flurry of sales of bonds that can be swapped into stock by Asian companies this year. That is particularly been the case with Chinese firms as issuers from Baidu to Ping An Insurance Group of China announced sizeable deals in recent months. Aside from possible acquisitions, Grab said it plans some share buy-backs – the company has US$274 million remaining under its share-repurchase programme as of the end of March. The bonds will be redeemable, under certain conditions, from mid-2028. As for the GoTo acquisition, Grab on Monday signalled that it was halting or at least pausing a planned US$7 billion acquisition. The pair of ride-hailing and food-delivery companies have held on-and-off talks for years, but a combination never materialised, partly because of antitrust concerns likely to arise from combining the two dominant players in Southeast Asia. Grab's offering is the largest Asian convertible-bond deal denominated in US dollars since Ping An's US$3.5 billion deal in July 2024, and the biggest by a non-Chinese company since Korean chipmaker SK Hynix's US$1.7 billion issuance in 2023. Ping An last week also issued convertible bonds worth US$1.5 billion, denominated in Hong Kong dollars.
Wall Street Journal
an hour ago
- Business
- Wall Street Journal
Grab Plans $1.25 Billion Fund Raise; To Spend on Buybacks, M&As
Grab plans to raise $1.25 billion via convertible bonds to fund buybacks and acquisitions, it said after issuing a fresh denial about a potential merger with Indonesian rival GoTo Gojek Tokopedia. The Southeast Asian ride-hailing and delivery company said it will use proceeds from the offering of convertible notes, due in 2030, to boost the 'strategic flexibility' of it business, which may include potential acquisitions. It emphasized that it will continue to maintain a high bar for any deals.
Bloomberg
3 hours ago
- Business
- Bloomberg
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.
South China Morning Post
6 days ago
- Business
- South China Morning Post
China's Ping An raises US$1.5 billion from convertible bonds to fund growth
Ping An Insurance (Group), China's largest insurer by market capitalisation, plans to raise HK$11.77 billion (US$1.5 billion) via convertible bonds to fund the growth of its core business and support its healthcare initiatives. The zero-coupon note due in 2030 is the biggest convertible bond denominated in US dollars or Hong Kong dollars by a Chinese company this year, according to Bloomberg data. It follows a US$690 million convertible senior note by video-sharing services provider Bilibili and a US$550 million convertible bond by data centre operator GDS Holdings in May. 'The company intends to apply the net proceeds from the issue of the bonds to further develop the group's core business and strengthen the group's capital position, support the group's new strategic initiatives in the healthcare and elderly-care sectors and for general corporate purposes,' Ping An said in a filing to the Hong Kong stock exchange on Wednesday. Ping An's bonds will be listed on the Frankfurt Stock Exchange. Photo: Reuters The bonds, which will be listed on the Frankfurt Stock Exchange, can be redeemed at par value on June 11, 2028.
CNA
28-05-2025
- Business
- CNA
Nissan plans $7 billion funding, backed partly by UK government, Bloomberg News says
TOKYO :Japanese automaker Nissan is considering raising more than 1 trillion yen ($7 billion) by issuing convertible securities and bonds, as well as a syndicated loan guaranteed by the UK government, Bloomberg News said on Wednesday. Japan's third-biggest automaker plans to issue as much as 630 billion yen in convertible securities and bonds, including high-yielding U.S. dollar and euro notes, Bloomberg News said, citing documents it had seen about the matter. Nissan is also considering taking out a 1 billion pound ($1.35 billion) syndicated loan, guaranteed by UK Export Finance, the report said. Nissan spokespeople did not immediately respond to a request for comment. Its shares rose following the report, and were last trading up about 1 per cent after giving back some of their gains. ($1 = 144.5700 yen) ($1 = 0.7421 pounds)
