Navigation Links
China Cord Blood Corporation Announces Completion of $65 Million Convertible Debt Financing with KKR
Date:4/27/2012

HONG KONG, April 27, 2012 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or "the Company"), the first and largest cord blood banking operator in China, today announced that it has successfully closed a US$65 million convertible debt financing with funds affiliated with KKR China Growth Fund L.P., a China-focused investment fund managed by Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR").  The transaction was first announced on April 12, 2012.

The convertible debt carries a 7% interest per annum and inclusive of the interest, a total internal rate of return of 12% per annum.  With a maturity of five years, the convertible debt holder can convert the convertible debt into ordinary shares of the Company at a conversion price of $2.838, subject to customary anti-dilutive adjustments.  On a fully converted basis, the total ordinary shares issuable represents approximately 23.8% of the enlarged share capital of the Company.

In connection with the transaction, the Company has agreed to file a registration statement with the Securities and Exchange Commission with respect to the ordinary shares issuable upon conversion.  The Company's senior executives and Golden Meditech Holdings Limited and its affiliates have entered into lock-up agreements regarding the ordinary shares currently held by them effective until KKR's investment in the Company decreases below a set threshold (subject to certain exceptions).

The Board of Directors of CCBC has appointed Mr. Julian Juul Wolhardt as a non-executive independent director, effective April 27, 2012. Mr. Wolhardt is a Member of KKR and focused on private equity transactions in the Greater China region.  Mr. Wolhardt is a Certified Public Accountant and Certified Management Accountant, with a bachelor's degree in accounting from the University of Illinois at Urbana-Champaign. 

Ms. Ting Zheng, Chairperson and Chief Executive Officer of CCBC stated, "We are extremely pleased with our new partnership with KKR.  Their investment in CCBC enhances our capital base and validates our long-term growth platform in China and potentially beyond. Partnering with one of the world's leading private equity firms also increases our visibility, broadens our shareholder base and enhances the long-term value for all CCBC shareholders."

"Our partnership represents a landmark investment in the China healthcare space," said Mr. Julian Juul Wolhardt.  "Together with CCBC, we are proud to serve the China market by offering high quality healthcare services that can positively impact the lives of many.  With our global expertise, we are dedicated to further strengthening CCBC's market leadership position."

For further details of the transaction, please refer to CCBC's Report on Form 6-K filed with the US Securities and Exchange Commission, which contains copies of the related documents and is available at http://www.sec.gov.

About China Cord Blood Corporation

China Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses.  Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today.  China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services.  For more information, please visit the Company's website at http://www.chinacordbloodcorp.com.   

For more information, please contact:

China Cord Blood Corporation
Ms. Joeling Law
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com

ICR, Inc.
Mr. Rob Koepp
Tel: (+86) 10-6583-7516 or (646) 405-5185
Email: robert.koepp@icrinc.com


'/>"/>
SOURCE China Cord Blood Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Sigma-Aldrich Opens New Wuxi Packaging and Quality Control Facilities to Enhance Capabilities Serving China and Asia-Pacific Region
2. China Cord Blood Corporation Reports Financial Results for the Third Quarter and First Nine Months of Fiscal 2012
3. Life Technologies Partners With DaAn Gene to Develop and Commercialize Molecular Diagnostic Assays in China
4. Elsevier Launches Bilingual International Nursing Skill Training and Management Platform: NursingChina.com
5. 3SBio Inc. to Present at the UBS Greater China Conference 2012
6. Hemodialysis Machine Industry 2012 Global & China Market Research Report - ReportsnReports
7. China Cord Blood Corporation Announces Results of 2011 Annual General Meeting
8. China Sky One Medical to Jointly Launch Adult Stem Cell Research Enterprise
9. China Cord Blood Corporation to Report Second Quarter and First Half of Fiscal 2012 Financial Results
10. China Biologic to Host Earnings Conference Call on November 8, 2011 at 8:00 a.m. EST (NY)
11. Life Technologies Launches 3500 Dx Series Genetic Analyzers for In Vitro Diagnostic Use in China
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2017)... , ... April 27, 2017 , ... ... for digital pathology, today announced their digital pathology technology has the potential to ... by five medical centers in The Netherlands as part of the 2017 ...
(Date:4/27/2017)... California (PRWEB) , ... April 27, 2017 , ... ... new infographic explaining why mass flow controllers based on capillary thermal mass flow ... industrial gas mass flow control applications. Over 80% of all industrial processes—such ...
(Date:4/27/2017)... -- Kinexum, a distinguished resource for research, development and commercialization ... Thomas C. Seoh as President and CEO. Mr. ... who becomes Executive Chairman and will continue to serve ... Thomas Seoh commented, "I am excited and ... the firm,s remarkable team of life science professionals, all ...
(Date:4/26/2017)... ... April 26, 2017 , ... Baltimore bio tech firm, ... security screening solution at the National Postal Forum 2017 in Baltimore, Maryland, May ... highly accurate, easy to use and low cost threat detection solution for government ...
Breaking Biology Technology:
(Date:4/3/2017)...  Data captured by IsoCode, IsoPlexis Corporation,s ... statistically significant association between the potency of ... objective response of cancer patients post-treatment. The ... cancer patients will respond to CAR-T cell ... to improve both pre-infusion potency testing and cell ...
(Date:3/30/2017)... The research team of The Hong Kong Polytechnic University ... adopting ground breaking 3D fingerprint minutiae recovery and matching technology, pushing ... for use in identification, crime investigation, immigration control, security of access ... ... A research team led by Dr Ajay ...
(Date:3/29/2017)... , March 29, 2017  higi, the health ... in North America , today announced ... and the acquisition of EveryMove. The new investment and ... set of tools to transform population health activities through ... lifestyle data. higi collects and secures data ...
Breaking Biology News(10 mins):