Kunlun energy has raised Rmb3.35bn (US$501m) from the sale of three-year convertible bonds that are renminbi-denominated, CNH-linked and US dollar-settled. The coupon was marketed at 1.375% to 1.875% before the CBs priced at the midpoint of 1.625%. The CBs come with a fixed conversion premium of 15% over the reference share price of HK$6.20. There was a same-day upsize option of up to Rmb1bn, but it was not exercised.
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