China Huiyuan to issue $150 mln bonds to Singapore's Temasek
HONG KONG, March 21
HONG KONG, March 21 (Reuters) - China Huiyuan Juice Group Ltd will issue $150 million worth of convertible bonds to a unit of Singapore state investor Temasek Holdings (Private) Ltd, as China's top pure fruit juice producer aims to expand its investor base.
Huiyuan said it will issue the bonds due 2019 to Temasek's Baytree Investments (Mauritius) Pte Ltd. Temasek will indirectly hold 7.68 percent of the enlarged share capital of Huiyuan on full conversion of the bonds.
Huiyuan, which holds as much as 56 percent of China's pure juice market by sales volume, said on Thursday it would buy 117.7 million yuan ($18.90 million) worth of assets from Suntory (China) Holding Co Ltd as the Hong Kong-listed firm expands its product portfolio to tea and coffee drinks.
Shares of Huiyuan fell 2.6 percent as at 0317 GMT, lagging a 0.2 percent gain in the benchmark Hang Seng Index.
($1 = 6.2275 Chinese yuan) (Reporting by Donny Kwok; Editing by Matt Driskill)
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