HONG KONG: Li & Fung $500m bond issue to fund acquisitions
Global sourcing giant Li & Fung is to issue $500m of perpetual bonds to raise funds for “strategic acquisitions and business development”, the company said.
Li & Fung said the cash injection would enable it to take advantage of shifts in the global economy and in consumer trends, particularly in Asia and especially in China.
The perpetual bonds will be listed on the Singapore Stock Exchange, with investors being sought in Asia and Europe, the company added.
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European retailers C&A, Kik and El Corte Ingles will contribute to a compensation plan for the victims of the Tazreen Fashions fire in Bangladesh in November last year. ...
Global sourcing giant Li & Fung Ltd has seen its full-year profit slump despite a slight rise in turnover, blaming ongoing restructuring costs and weakness in its distribution business....
Men's Wearhouse has today (6 March) appointed Jon Kimmins as executive vice president, chief financial officer and treasurer. ...
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