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Aveng Ltd prices convertible bond offering

Wednesday, 16 Jul 2014 11:33am EDT

Aveng Ltd:Says placement of 7.25 pct senior unsecured convertible bonds maturing in 2019 (Bonds), for principal amount of two bln rand.Payment for and delivery of Bonds are expected to take place on or about July 23, 2014.Intends to use net proceeds from offering to repay certain existing debt facilities, extend its debt maturity profile and for general corporate purposes.Offering forms part of company's strategy to manage liquidity needs, diversify funding sources and reduce reliance on bank debt, and to position itself to take advantage of growth opportunities.Barclays Bank PLC and J.P. Morgan Securities plc are acting as Joint Bookrunners.Nedbank Limited (acting through its Nedbank Capital Division) is acting as Co-Manager (together with the Joint Bookrunners, the Managers.

Volgogaz OAO appoints chairman

Wednesday, 16 Jul 2014 08:23am EDT

Volgogaz OAO:Appoints Svetlana Ravkhatovna Evpreva to the post of chairman of the board of directors.

Pumyang Construction Co., Ltd. announces shareholding changes

Wednesday, 16 Jul 2014 02:48am EDT

Pumyang Construction Co., Ltd:Shinhan Bank and a related party's stake in the company was decreased to 2.76 pct (72,365 shares) down from 23.11 pct (73,910 shares).

Aveng Ltd launches convertible bond offering

Wednesday, 16 Jul 2014 01:51am EDT

Aveng Ltd:Launches offering of base size of 1.5 bln rand, with an upsize option of 500 mln rand of senior unsecured convertible bonds maturing in 2019.Bonds will be issued at 100 pct of their principal amount and are expected to carry a coupon of between 6.75 pct and 7.50 pct per annum.Payable semi-annually in arrear on Jan. 24 and July 24 of each year, with first coupon to be paid on Jan. 24 2015.Intends to use net proceeds from offering to repay certain existing debt facilities, extend debt maturity profile and for general corporate purposes.Offering forms part of Company's strategy to manage its liquidity needs, diversify its funding sources and reduce its reliance on bank debt, and to position itself to take advantage of growth opportunities.Bonds are expected to be priced on July 16 and it is expected that settlement of the Bonds will take place on or about July 23.Barclays Bank PLC and J.P. Morgan Securities plc are acting as Joint Bookrunners.Nedbank Limited (acting through its Nedbank Capital Division) is acting as Co-Manager (together with the Joint Bookrunners, the Managers).

Devine Ltd and Leighton Holdings Ltd agree process for potential sale

Tuesday, 15 Jul 2014 07:00pm EDT

Devine Ltd and Leighton Holdings Ltd:Says that Leighton Holdings Limited commenced a confidential expression of interest process to seek potential investors of its 50.6 pct. investment in Devine.In light of these events, the Board of Devine have formed the view that it is in the best interests of Devine shareholders as a whole to explore a formal sale process for all of the shares of the company.As a result, Devine and Leighton have entered into arrangements in relation to the sale process.Says the process will be administered solely by Devine and overseen by an independent board committee of Devine in consultation with Leighton and its advisers.There are no assurances that a sale of Devine will be finalised or what form the transaction if will ultimately take.Devine has appointed Goldman Sachs as financial adviser and King & Wood Mallesons as legal adviser in connection with the process.

Stefanutti Stocks Holdings Ltd announces change of Chairman

Tuesday, 15 Jul 2014 11:10am EDT

Stefanutti Stocks Holdings Ltd:Says Board of Stefanutti Stocks accepts resignation of Gino Stefanutti, as chairman and director, due to reasons of ill health, with effect from July 15, 2014.Vuli Cuba, who joined as non-executive director on Aug. 02 2013, and was appointed Lead Independent Director on Nov, 19, 2013, will assume chairmanship of Company with immediate effect.

Government of Rajasthan to set up a JV company with National Buildings Construction Corporation Ltd

Tuesday, 15 Jul 2014 08:27am EDT

National Buildings Construction Corporation Ltd (NBCC):Says the Budget speech, Hon'ble Chief Minister, Government of Rajasthan announced to form a joint venture (JV) company with NBCC to execute various re-developmental works and construction projects in the State of Rajasthan.

Ahluwalia Contracts (India) Ltd announces recent award of new projects worth of 6.1485 bln Indian rupees

Tuesday, 15 Jul 2014 03:28am EDT

Ahluwalia Contracts (India) Ltd:Says that it has secured new orders aggregation to 6.1485 bln Indian rupees (approx) for construction/commercial building, including electrical, plumbing and fire fighting services.

ALSTOM India Ltd and NASL to renovate and modernize electrostatic precipitators for NTPC's Talcher Super thermal power plant in India

Tuesday, 15 Jul 2014 03:20am EDT

ALSTOM India Ltd:Says that ALSTOM and NASL has been awarded contract worth about 13 mln euros (1.074 bln Indian rupees) by NTPC for renovation and modernization of electrostatic precipitators (ESP) at four units of 4 x 500 MW Talcher Super thermal power plant in Odisha.Upgrade will reduce particulate emissions from plant below 50 mg/Nm3.Project is scheduled to be commissioned in 2018.

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