Sino Grandness

Sino Grandness: (The Edge) Fast growth at Sino Grandness may still fall short of convertible bond targets. Some analysts still worry that Sino Grandness is not doing well enough to avoid having to redeem its convertible bonds on onerous terms. Convertible bonds issued at a zero coupon rate offers the bondholders in the option of participating in the listing of grp’s juice business n HK. If the unit is not listed by Oct 2014, grp will have to redeem as much as Rmb195m. Grp CEO insists that Garden Fresh will not disappoint investors in qtrs ahead and grp is on track to quadruple production capacity this yr, while expanding distribution channels and expand into 2nd and 3rd tier cities, adding that grp will do much better in 2Q and 3Q. While CEO anticipates more cash to finance his capacity expansion, note that grp is finding it easier to borrow money it needs from banks.