Biostime taps dollar bond to fund CB tender

Chinese infant formula manufacturer is looking to make its debut international bond offering to partially finance the repurchase of its outstanding convertible debt.

Biostime taps dollar bond to fund CB tender

Chinese baby formula manufacturer Biostime International plans to restructure its balance sheet through a tender offer of its outstanding HK$3.1 billion $400 million convertible debt and a new Reg S144A senior bond issue, the company said on Monday.

The move is taking place after the company spent A$1.4 billion $992 million last year acquiring a controlling 83% stake in Swisse Wellness, the Australian health supplements and vitamins company....

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