Citigroup Global Markets has issued US$275 million in cash-settled exchangeable bonds for shares in HKEX.
The scheduled issue date for the bonds is 10 April 2025. With an issue price of 103%, they will mature on 10 October 2028. HKEX will use the proceeds for general corporate purposes, it said.
Bonds will be issued in principal amounts of US$200,000, with excess issued in multiples of US$100,000. They will initially be listed on the Frankfurt Stock Exchange, with admission to trading expected to be approved within six months of the issue date.
The exchange price has a 16.25% premium, based on Hong Kong Stock Exchange VWAP share prices as of 28 March 2025.
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