Midea Group seeks 2.2 billion dollars in bond sales
Midea Group plans to raise HK$17.25 billion through bond offerings maturing in 2027 and 2033. The move aims to boost liquidity and lower financing costs.
Midea Group plans to raise HK$17.25 billion ($2.20 billion) through a dual-tranche bond issuance to boost offshore liquidity. The China-based home appliance maker will split the offering into two equal HK$8.62 billion portions maturing in 2027 and 2033. Midea said the bond issues aim to reduce financing costs and raise further working capital.
### Strategic Liquidity and Conversion Terms The issuance targets conversion premiums for investors in Midea-listed shares. Midea set the initial conversion price for the 2027 bonds at HK$96.82 per H share, while the 2033 bonds carry a higher conversion price of HK$115.76 per H share. The bonds will mature in 2027 and 2033 respectively.
