Bedding and padding manufacturer Everpia Jsc., (EVC) issued convertible bonds worth US$10.1 million for Rhinos Vietnam Convertible Bond Private Investment Fund No. 4 which is run by Korea’s Rhinos Asset Management Co., Ltd.

According to EVC’s announcement on its website, the bond is of a five-year term with an annual yield of 1 per cent.

The money raised would be partly used to expand its distribution network and business while the rest would be used to invest in fixed assets, marketing and branding activities, the company said.

After one year since the issuance, the buyer could convert the bonds at the price of VND18,245 ($0.8) each.

Around 70 per cent of Everpia Vietnam’s revenue is gained from the sale of bedding products and 30 per cent from padding products. The company owns brands such as Everon and Artemis. — VNS