MMG Limited (MMG, The Company) (HK.1208) today announced the successful pricing of its offering of US$500 million senior unsecured convertible notes due in 2030, achieving a 40% conversion premium.
The notes will have zero coupon with an initial conversion price of HK$8.40 per ordinary share, subject to adjustment in the manner set out in the terms and conditions of the notes. Assuming full conversion of the notes at the initial conversion price. The notes will be converted into 463,113,095 ordinary shares, representing approximately 3.67% of the enlarged total issued share capital of the Company.
The notes have a maturity date of 8 October 2030 and the net proceeds from the offering will be used to refinance the Company’s existing debt, immediately lowering annual interest payments.
MMG CEO, Mr. ZHAO Jing (Ivo), stated: “The offering diversifies MMG’s sources of funding and lowers our overall financing costs, delivering immediate interest expense savings and providing further flexibility to pursue our growth strategy. It was very pleasing to see strong demand for the Company’s first convertible bond issuance, which was nearly 12 times oversubscribed and priced at some of the most attractive terms seen in the convertible bond market over the past decade, demonstrating the significant investor support for MMG’s strategy and operations.”
Settlement of the Offering is expected on 8 October 2025.
Andrea Atell
General Manager Corporate Affairs and Sustainability
T +61 449 689 991
E CorporateAffairs@mmg.com
Felicity Watson
Head of Communications
T +61 408 108 516
E CorporateAffairs@mmg.com