Singapore sovereign wealth fund Temasek Holdings (Private) Ltd., through its indirectly wholly owned subsidiary Baytree Investments (Mauritius) Pte Ltd, has agreed to buy US$150 million of convertible bonds issued by China Huiyuan Juice Group Ltd. (001886.HK), the beverage maker said Friday. The bonds can be converted into ordinary Huiyuan shares at an initial price of HK$7.00 per share. Assuming no new ordinary shares are issued, Temasek will indirectly hold 8.32 percent of the Chinese company’s existing issued share capital, the statement said. The proceeds will be used to refinance existing debt and as general working capital.
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