“The successful signing of this exchangeable bond deal indicates the confidence and belief in the strong recovery and fundamentals of our cinema business and the mm2 group in general,” says Melvin Ang, mm2 Asia’s executive chairman.
Entertainment company mm2 Asia has confirmed it is raising $54 million by issuing exchangeable bonds to UOB Kay Hian carrying a coupon of 5% for a three-year term.
Under terms of the bond deal, first announced back in June 16, UOB Kay Hian can convert the bonds into shares of mm Connect group, the subsidiary of mm2 Asia which owns, operates, and manages cinemas including the Cathay Cineplexes and mmCineplexes brands in Singapore and Malaysia.
