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Pacific Basin Shipping plans up to $131 mln convertible bond -terms
September 20, 2012 / 9:51 AM / in 5 years

Pacific Basin Shipping plans up to $131 mln convertible bond -terms

HONG KONG, Sept 20 (Reuters) - Pacific Basin Shipping Ltd , which specializes in small cargo ships, plans to raise up to $131 million in convertible bonds due 2018, according to terms of the deal seen by Reuters on Thursday.

The bonds were launched with a coupon of 1.375 percent to 1.875 percent and an initial conversion price of HK$4.96 to HK$5.25, according to the term sheet.

Goldman Sachs was hired as sole bookrunner on the deal. (Reporting by Elzio Barreto; Editing by Ken Wills)

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