New Hope Corporation Limited (ASX: NHC) has successfully priced AU$300 million 4.25% senior unsecured convertible notes due in 2029. The settlement is anticipated on July 12, 2024, with a maturity date set for 2029, allowing for potential early redemption, repurchase, or conversion in line with the notes' terms and conditions.
The convertible notes include a coupon rate of 4.25% p.a., with a conversion premium set at 30% above the Reference Share Price of AU$5.10 per Ordinary Share. The initial conversion price is AU$6.63 per Ordinary Share. Noteholders can choose physical settlement upon conversion, with the option for cash settlement at the Issuer's discretion. Cash settlements are based on the average share price over 60 trading days, with adjustments for dividends exceeding AU$0.16 per Share annually. The Conversion Price adjusts for anti-dilution and varies based on a change in control timeframe relative to the Maturity Date.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
