Singapore-based entertainment group mm2 Asia saw its S$50mn 7% bonds due April 27 this year jump 10 points as it announced that a private equity investor has shown interest in investing in one of mm2 Asia’s core businesses. mm2 said that it has received a non-binding term sheet, adding “It should be noted that these discussions are at a very preliminary stage, and this announcement is being made by the board in the interest of keeping shareholders updated.” This comes after the company received in-principal approval for a proposed renouncable underwritten rights issue, through which it aims to raise S$52.15mn to meet its upcoming bond maturity.
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