WuXi AppTec's (HKG:2359, SHA:603259) unit WuXi AppTec (HongKong) has issued $500 million worth of zero coupon convertible bonds, a Monday bourse filing said.

The biotech firm has also applied to list the bonds on the Hong Kong stock exchange. Permission to list and deal in the bonds is expected to become effective Tuesday.

Proceeds from the bonds, which will fall due in 2025 and are convertible into the company's ordinary H shares at HK$80.02 apiece, will be used to repay debts and expand globally.

Hong Kong-listed shares of the company closed nearly 2% lower on Monday.

Price (HKD): $50.25, Change: $-0.95, Percent Change: -1.86%