Zhejiang Expressway redeems €365 million 0% five-year convertibles

By Wendy Van Sickle

Columbus, Ohio, March 26 – Zhejiang Expressway Co. Ltd. redeemed all €365 million of its 0% convertible bonds due April 12, 2022 at par plus interest, according to a notice.

The bonds were issued April 21, 2017.

The company’s directors viewed the early redemption as a good opportunity for the group to manage its capital structure and reduce finance costs, according to the notice.

Zhejiang is an infrastructure company based in Hangzhou, China.

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