The Toronto Stock Exchange reports that Baylin Technologies Inc.'s 6.5 per cent extendible convertible unsecured debentures will be listed at 5:01 p.m. on July 9, 2018, for trading at the open on July 10, 2018. According to the TSX, the debentures will trade under the symbol BYL.DB and Cusip No. 072819 AA 3.

As stated in a prospectus supplement dated July 3, 2018, to the company's short form base shelf prospectus dated Nov. 16, 2017, Baylin will issue $17.25-million of debentures, in the minimum principal amount of $1,000 each, in a public offering. The company expects to close the offering before the open on July 10, 2018.

According to the TSX, the debentures will have an initial maturity date of Aug. 15, 2018, with the company having the option to extend the date to Sept. 12, 2018. The final maturity date will be July 10, 2023.

The TSX reports that Baylin will pay interest on the debentures semi-annually in arrears on June 30 and Dec. 31 in each year, at 6.5 per cent per year. Assuming the debenture offering closes on July 10, 2018, the initial interest payment of $30.9863 per $1,000 principal amount will be paid on Dec. 31, 2018.

The TSX notes that the holders of the debentures will have the option, at any time before the close of business on the earlier of the business day immediately preceding the maturity date or the business day immediately preceding the redemption date, if a redemption is called, to convert their debentures into shares of the company at $3.85 per share. This conversion price represents a conversion rate of approximately 260 shares per $1,000 principal amount of debentures.

According to the TSX, the subscription receipts issued under the prospectus supplement will not be listed on the TSX.