Brilliance China issuing $170 mln conv bonds-source

Newswire

HONG KONG, Oct 28 (Reuters) - Brilliance China Automotive Holdings Ltd , the mainland's largest minibus maker, is issuing US$170 million in convertible bonds, a banking source told Reuters on Tuesday. The conversion price of the bonds will be set later on Tuesday at a premium of 34 to 38 percent of the stock's closing price of HK$3.35, the source said. That would put the conversion price in a range of HK$4.489-$4.623. The zero-coupon bonds will yield 75 basis points per year, the source ...

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