Ashurst represented property developer Far East Consortium International on its subscription to HK$129.5 million (US$16.7 million) convertible bonds issued by Apex Centric, a wholly owned subsidiary of Hong Kong-listed beauty and lifestyle products retailer Bonjour.
The five-year bonds are convertible into shares of Bonjour, which represent 16.65% of the group’s enlarged issued share capital. This is the first convertible bond offering by the company.