Gacl To Recast Gdr Into $50m Euro Bond

The lead manager to the issue, HSBC James Capel, advised the company on the conversion to a bond issue.

A depressed market has been cited as the chief factor that prompted the company to shelve its global depository receipt issue and instead opt for bonds.

HSBC James Capel sources say the bond is set to be launched by the end of the year.