Zhou Hei Ya updates December buybacks of 1% convertibles

By Mary-Katherine Stinson

Lexington, Ky., Dec. 29 – Zhou Hei Ya International Holdings Co., Ltd. gave details of December buybacks of its HK$1.55 billion 1% convertible bonds due 2025, according to an announcement.

The HK$32 million of bonds, representing 2.1% of the original issue, were repurchased on the open market on Dec. 28 and Dec. 29. The repurchased bonds were convertible into 3,196,803 shares of the company.

These final repurchases complete the company’s previously announced plan to repurchase up to 32.5% of the total principal of the bonds from Dec. 5 to Dec. 30.

As with the previous buybacks, funding for the repurchases came from internal resources of the issuer.

As of Dec. 29, the company has repurchased HK$1.056 billion, or 68.1%, of the original issue.

After the repurchased bonds are canceled, HK$494 million of the bonds will remain outstanding.

Zhou Hei Ya is a Wuhan, China-based food products company.

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