3rd Jun 2014 10:18
LONDON (Alliance News) - Green Dragon Gas Ltd Tuesday said GIC Private Ltd, a sovereign wealth fund established by the Government of Singapore, has converted a USD35 million convertible bond issued by the company in December 2013.
The Chinese coalbed methane producer said the conversion was early, as the bonds had a 7% interest rate and were due in December 2015.
The proceeds from the subscription of the bonds issued in December helped fund a drilling programme for the company this year.
Green Dragon Gas shares were up 4.4% to 532.18 pence on Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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