Latest news with #exchangeablebonds
Bloomberg
20-05-2025
- Automotive
- Bloomberg
Uber Squeezes More From Aurora Stake With $1.2 Billion Bond Sale
By and Anthony Hughes Save Uber Technologies Inc. 's $1.2 billion exchangeable bond deal, linked to its shares in a self-driving truck firm, shows why the unusual financial maneuver can be more attractive than a typical stake sale, according to observers. Last week, the San Francisco-based ride-hailing company issued exchangeable senior bonds tied to its stake in Aurora Innovation Inc. The deal was priced on favorable terms for Uber, with zero coupon and a 16.1% conversion premium that was above the marketed range.
Bloomberg
13-05-2025
- Business
- Bloomberg
Sinopec Seeks $994 Million Via Bonds Exchangeable Into Stock
Sinopec, China's biggest crude oil processor, is seeking to raise HK$7.75 billion ($994 million) from the sale of exchangeable bonds to refinance existing offshore debt. A unit of China Petrochemical Corp., or Sinopec Group, is offering the bonds that will be exchangeable into shares of Hong Kong-listed subsidiary China Petroleum & Chemical Corp., terms of the deal seen by Bloomberg News show.
Free Malaysia Today
07-05-2025
- Business
- Free Malaysia Today
Malaysia's biggest state fund revives exchangeable bond sale plan
Permodalan Nasional Bhd had RM347 billion in assets under management as of Dec 24. KUALA LUMPUR : Permodalan Nasional Bhd (PNB) is considering reviving an exchangeable bond sale that it had explored six years ago to raise funds to expand overseas, people with knowledge of the matter said. State-owned PNB is working with financial advisers on the potential offering of exchangeable bonds, which are notes backed by shares in a listed company, according to the people, who asked not to be identified because the process is private. 'It would be PNB's first exchangeable bond sale,' they said. 'PNB is still deliberating and hasn't decided on the underlying stock or size and timing of a sale,' the people said. In response to a Bloomberg News query on the matter, PNB said it continuously evaluates options as part of an asset diversification strategy aimed at delivering sustainable returns. PNB had RM347 billion (US$82 billion) assets under management as of Dec 24. Its investments include stakes in Malayan Banking Bhd, conglomerate Sime Darby Bhd and developer SP Setia Bhd. PNB also has holdings in Axiata Group Bhd, CIMB Group Holdings Bhd and Telekom Malaysia Bhd, among others. PNB explored an exchangeable bond sale in 2019, Bloomberg reported, but a change in leadership and the Covid pandemic put the brakes on that plan.
