It announced that it had the repayment capability in meeting all its debt obligations.
The placement price for the private placement was fixed at 50.5 sen and it was expected to be carried out in one tranche.
It was in the midst of finalising the details of the debt issuance which includes the terms for the conversion of the debt to equity and the basis in arriving at the conversion price.
Proceeds from the debt issuance will be utilised to reduce the company's bank borrowings and to upgrade its production facilities.
Monday, January 25, 2010
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