Och-Ziff buys into Xinyi Glass and its solar glass subsidiary

Och-Ziff invests $150 million into the Chinese glass manufacturer through a Pipe deal that includes an equity portion as well as a CB, and makes a $30 million pre-IPO investment into its unlisted solar glass unit.

Och-Ziff buys into Xinyi Glass and its solar glass subsidiary
Xinyi Glass makes high-quality float glass, solar glass, automobile glass and energy saving construction glass products (AFP)

Hedge fund manager Och-Ziff Capital Partners has agreed to invest $150 million in Hong Kong-listed Xinyi Glass through a so-called Pipe deal a private investment in a public-listed entity. It will also subscribe to five-year warrants and a bond option in Xinyi Glass’s unlisted subsidiary Xinyi Solar at a value of $30 million.

The combined deal will allow the Chinese glass manufacturer to replenish its capital at a lower cost than it would be able...

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