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Hynix sells $500 mln 5-year convertible bonds
May 11, 2010 / 11:00 PM / 7 years ago

Hynix sells $500 mln 5-year convertible bonds

SEOUL, May 12 (Reuters) - South Korea’s Hynix Semiconductor Inc (000660.KS) said on Wednesday it sold 5-year bonds worth $500 million abroad that could be converted into its shares at 34,580 won apiece.

Hynix had said it would sell the bonds to refinance $583 million in convertible bonds issued in 2007, for which early redemption calls are expected in June.

Holders of the new bonds, which carry a coupon rate of 2.65 percent per annum, can exercise an option to request early repayment from three years after the issue, Hynix said in a filing with the Korea Exchange.

Credit Suisse CSGN.VX, The Royal Bank of Scotland (RBS.L), Shinhan Investment Corp and Woori Investment & Securities were among the banks handling the issue. (Reporting by Rhee So-eui; Editing by Jonathan Hopfner)

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