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Wood processor to issue $7.1 million worth of bonds

Update: March, 27/2012 - 09:03

BINH DUONG — Truong Thanh Furniture Corp (TTF) will issue VND150 billion (US$7.1 million) worth of bonds to strategic partners, particularly those operating in the wood processing sector, according to a recent shareholder meeting.

The bonds will probably be convertible. Par value of the three-year bonds will be VND10 million ($470), including warrants. Converting value will not exceed 20 per cent of the company's charter capital.

In addition, Truong Thanh has agreed to postpone the stock swap ratio for its merger with two subsidiaries until next month.-VNS

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