Lingyi iTech Guangdong (SHE:002600) issued convertible bonds worth 2.14 billion yuan, according to a Shenzhen Stock Exchange filing on Thursday.
The bonds have a term of six years, maturing on Nov. 17, 2030.
The coupon rate for the first year is 0.2% and it will rise to 0.4% on the second year, 0.6% on the third, 1.5% on the fourth, 1.8% on the fifth and 2% in the sixth.
Guotai Junan Securities (HKG:2611, SHA:601211) is the lead underwriter for the issuance, the Chinese magnetic material components maker said.
Lingyi's shares dropped more than 4% in recent trade.
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