Tsingtao Brewery offers 1.5 bln yuan convertibles

SHANGHAI, March 31 (Reuters) - Tsingtao Brewery Co (600600.SS: Quote, Profile, Research, Stock Buzz)(0168.HK: Quote, Profile, Research, Stock Buzz) said on Monday it was offering 1.5 billion yuan ($214 million) of convertible bonds with detachable warrants, to support expansion projects.

The six-year bonds will have a coupon between 0.8 and 1.5 percent, and the A-share warrants will have an indicative exercise price of 28.32 yuan, the company said. Its shares last closed at 26.49 yuan.

The offer is equally split between institutional and retail tranches, and subscriptions will be taken on Wednesday.

Money raised will go towards six investment projects to expand production capacity, which are expected to cost a total of 1.92 billion yuan, Tsingtao Brewery said. ($1 = 7.01 Yuan) (Reporting by Andrew Torchia; Editing by Edmund Klamann)