CTF SERVICES (00659) has completed the issuance of 780 million Hong Kong dollars of convertible bonds.

CTF SERVICES (00659) announced the issuance of HK$780 million 4.00% convertible bonds due in 2025. All the preconditions for the issuance of the bonds stated in the subscription agreement have been met, and the subscription and issuance of the bonds were completed on January 22, 2025. The bonds are expected to be listed on the Vienna Stock Exchange on or around January 22, 2025. The total principal amount of the bonds is HK$780 million, and they have been allocated by the arranger to at least 6 independent placement agents (defined as professional investors under the Securities and Futures Ordinance). The company plans to utilize the net proceeds of approximately HK$769 million as follows: around HK$700 million for repayment of part of the group's bonds and/or loans principal and interest; and the remaining portion for working capital.