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An announcement from Sunpower Group Ltd. ( (SG:5GD) ) is now available.
Sunpower Group Ltd. has responded to questions from the Securities Investors Association (Singapore) regarding a proposed rights issue of convertible bonds. The company plans to issue up to $99.6 million in 7% convertible bonds to repay existing bonds, which will increase their interest expense by $4.5 million annually. The board’s decision to opt for convertible bonds over other funding options such as a rights issue of ordinary shares was questioned, highlighting considerations of total return and redemption yield-to-maturity for bondholders.
More about Sunpower Group Ltd.
Average Trading Volume: 138,927
Technical Sentiment Consensus Rating: Buy
Current Market Cap: S$198.9M
See more data about 5GD stock on TipRanks’ Stock Analysis page.