Asahi: Announcement Regarding The Issuance Of Zero Coupon Convertible Bonds Due 2012 And 2014

Date: 27 November 2009
Source: Asahi
Asahi Glass Company, Limited (the “Company”) hereby notifies the following issuance of Zero Coupon Convertible Bonds due 2012 (bonds with stock acquisition rights, tenkanshasaigata shinkabuyoyakuken-tsuki shasai, hereinafter referred to as the “2012 Bonds”) and of Zero Coupon Convertible Bonds due 2014 (bonds with stock acquisition rights, tenkanshasaigata shinkabuyoyakuken-tsuki shasai, hereinafter referred to as the “2014 Bonds”, and together with the 2012 Bonds, the "Bonds") resolved at the meeting of the Board of Directors held on November 25, 2009. Approval in-principle has been received for the listing of the Bonds on the Singapore Exchange Securities Trading Limited. Use of Proceeds The net proceeds of the issue of Bonds will be used primarily as follows: (i) approximately ¥70,000 million on capital expenditure aimed at strengthening and expanding existing businesses with further growth potential and on development of, and investment in, future growth businesses; and (ii) the balance on the repayment of interest-bearing debt, in order to respond to funding needs required for taking various measures for the purposes of establishing a foundation for growth. Read more here.

Asahi Glass Company, Limited (the “Company”) hereby notifies the following issuance of Zero Coupon Convertible Bonds due 2012 (bonds with stock acquisition rights, tenkanshasaigata shinkabuyoyakuken-tsuki shasai, hereinafter referred to as the “2012 Bonds”) and of Zero Coupon Convertible Bonds due 2014 (bonds with stock acquisition rights, tenkanshasaigata shinkabuyoyakuken-tsuki shasai, hereinafter referred to as the “2014 Bonds”, and together with the 2012 Bonds, the "Bonds") resolved at the meeting of the Board of Directors held on November 25, 2009.
 
Approval in-principle has been received for the listing of the Bonds on the Singapore Exchange Securities Trading Limited.
 
Use of Proceeds The net proceeds of the issue of Bonds will be used primarily as follows: (i) approximately ¥70,000 million on capital expenditure aimed at strengthening and expanding existing businesses with further growth potential and on development of, and investment in, future growth businesses; and (ii) the balance on the repayment of interest-bearing debt, in order to respond to funding needs required for taking various measures for the purposes of establishing a foundation for growth.
 
Read more here.

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