China Southern prices CNY16 billion convertible bond | News

China Southern Airlines has announced pricing of an upcoming convertible bond issue that is set to raise CNY16 billion ($2.4 billion) for the carrier.

The bonds, convertible to mainland China-listed A-shares, will bear 0.2% interest in the first year, 0.4% in the second year, 0.6% in the third year, 0.8% in the fourth year, 1.5% in the fifth year and 2% in the sixth year, the airline says in a 12 October filing to the Hong Kong stock exchange.

China Southern A330

On 15 October, China Southern will issue 160 million bonds with a nominal value of CNY100 each. The issuance matures on 14 October 2026.

The initial conversion price for the shares is set at CNY6.24 per share and the conversion period runs from 21 April 2021 to 14 October 2026.

The number of converted shares will be determined by dividing the face value of bonds against the effective conversion price

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Want 8% Bond Income At A 6% Discount? Calamos Dynamic Convertible And Income Fund (NASDAQ:CCD)

Ever try to research bonds? It can add some security, being higher up on the creditor heap, but researching the many details can be confounding and very time consuming for the retail investor. Maybe leaving it to some “bond market pros” might be a solution.

That’s where Calamos Dynamic Convertible And Income Fund (CCD) comes in. It’s a closed end fund, a CEF, which “invests in convertibles and other below-investment-grade (high yield) fixed income securities with the aim of generating total return through a combination of capital appreciation and income. To help generate income and achieve a favorable risk/reward profile, the investment team can also sell options.

By investing at least 50% in convertibles, the fund seeks upside participation in equity markets with less downside exposure over a full market cycle. It actively allocates assets between convertibles, fixed income and equity securities to optimize risk-managed returns.”

It also has a

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SPI Energy Co., Ltd. Amends Terms of Convertible Bond Financing

SANTA CLARA, CA / ACCESSWIRE / October 8, 2020 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the “Company”), a global provider of photovoltaic (PV) solutions for business, residential, government, and utility customers and investors, today announced that it entered into an amendment agreement with respect to the Company’s convertible bond financing with Magical Glaze Limited, pursuant to which agreement the repayment of US$6.6 million and US$ 13.4 million of the a principal amount of US$20 million is due by October 8, 2020 and March 31, 2021, respectively.

About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global provider of photovoltaic (PV) solutions for business, residential, government, and utility customers and investors. The Company provides a full spectrum of EPC services to third party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan

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Russian rouble firms with other emerging currencies ahead of OFZ bond auctions

MOSCOW, Oct 7 (Reuters)The Russian rouble firmed ahead of treasury bond auctions on Wednesday along with other emerging market currencies, but its gains were capped by falling oil prices and geopolitical risks.

Political unrest in Kyrgyzstan, where rival opposition factions made grabs for power on Wednesday, added to turmoil in neighbouring Belarus, a military conflict in the South Caucasus and the suspected poisoning of Kremlin critic Alexei Navalny in exerting pressure on the currency.

At 0746 GMT, the rouble was 0.4% stronger against the dollar at 78.15 RUBUTSTN=MCX and had gained 0.2% to trade at 91.88 versus the euro EURRUBTN=MCX. Rising coronavirus cases globally and at home also weighed.

Brent crude oil LCOc1, a global benchmark for Russia’s main export, was down 1.2% at $42.12 a barrel.

Rouble sales would be facilitated by the situation on energy markets, said Bogdan Zvarich, chief analyst at Promsvyazbank. However,

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Convertible Bonds: Hybrid Bond Lets You Get Paid to Wait While Reducing Some Risks

Hybrid Bond Investment Increases Income and Reduces Some Risks.

Summer fun may include long drives along the coast in a two-seater cruising along with the top down. While the summer season has come and gone and it may be time to park the sporty auto and put the top back up as cooler seasons and inclement weather approach, consider this: Convertibles can be used in investing, too, and can offer more than just driving fun. Convertible Bonds, a hybrid investment, are always in fashion as part of any all-weather diversified investment portfolio.

Hybrids are all the rage with auto buyers. And convertibles are a perennial favorite of auto enthusiasts. Both can be part of a long-term investment portfolio, too.

Convertible Bonds may be unfamiliar to most investors but they are a great tool for helping to minimize risk in any investment portfolio. Convertible Bonds are hybrid investment vehicles that offer … Read More

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