Edition:
India

Zhongsheng Group Announces Cancellation Of Existing Convertible Bonds


Wednesday, 23 May 2018 

May 23 (Reuters) - Zhongsheng Group Holdings Ltd <0881.HK>::OUT OF COMMITMENTS TO SELL EXISTING CONVERTIBLE BONDS IN AMOUNT HK$2,256 MILLION CO REPURCHASED BONDS IN AMOUNT OF HK$2,169 MILLION.REPURCHASE PRICE OF ABOUT HK$2,608 MILLION, REPRESENTING 120.25% OF PRINCIPAL AMOUNT OF REPURCHASED EXISTING CONVERTIBLE BONDS.UPON COMPLETION OF REPURCHASE, ABOUT HK$2,169 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF EXISTING CONVERTIBLE BONDS WILL BE CANCELLED.ALSO, CO EXPECTS TO REPURCHASE ABOUT HK$87 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF EXISTING CONVERTIBLE BONDS AT PRICE OF HK$105 MILLION.UPON CANCELLATION OF ADDITIONAL BONDS OUTSTANDING PRINCIPAL AMOUNT OF EXISTING CONVERTIBLE BONDS IS ABOUT HK$94 MILLION.. 

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24 May 2019