Singapore has thrown its weight behind a planned SGD 50m ($36.7m) unsecured convertible bond issue by locally listed Chinese shipbuilder Yangzijiang.
The city state’s Economic Development Board (EDB) has subscribed for SGD 25m of the bonds via its investment arm EDB Investments Pte.
Alexandrian Worldwide Incorporated, which is backed by Yangzijiang’s current management team, has subscribed to the remaining SGD 25m worth of bonds.
