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. Last Updated: 07/27/2016

Convertible Bonds Will Raise $350M for TMK

TMK plans to raise about $350 million selling five-year convertible bonds to refinance short- term debt, it said Thursday.

The bonds are expected to pay an annual coupon of 5 percent to 5.5 percent, TMK said. The notes can be handed over for global depositary receipts when the shares rise between 27.5 percent and 32.5 percent from the current market price, according to the filing.

(Bloomberg)