Turners may sell $30M of 2-year convertible bonds as existing issue nears maturity

Thu, 11 Aug 2016

By Jonathan Underhill Aug. 12 (BusinessDesk) - Turners Group, the financial services firm that has $23 million of convertible bonds set to convert to shares on Sept. 30, said it is contemplating a new offer of up to $30 million of the securities to ensure it has funds available in the event it identifies acquisition opportunities. The offer would be for $25 million of two-year convertible bonds with the ability to accept oversubscriptions of up to $5 million, the Auckland-based company said in a statement. The bonds would pay annual inter...

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