Singapore-listed Sun East issues 15 mln usd-worth of notes to Deutsche Bank |
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Published
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Tue, 30 Jan 2007 01:51
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SINGAPORE (XFN-ASIA) - Sun East Group Ltd, a consumer brand development and management group in China, has issued 15 mln usd-worth of secured floating-rate notes due 2009 to Deutsche Bank AG, Sun East said.Sun East said it had also issued 69.47 mln warrants to Deutsche Bank.The warrants entitle the bank to subscribe to 69.47 mln new shares in Sun East at an exercise price of 0.3347 sgd each.The proceeds from the notes and warrant issue will be used to fund the group's acquisition of 51 pct of NuXD International Ltd, which distributes Cruiser ready-mixed vodka drinks in mainland China, Hong Kong and Taiwan, and Coors Light Beer in Taiwan, it said.(1 usd = 1.53 sgd)singapore@xfn.com
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