iDreamSky reports HK$758 million of interest on convertible buyback

Chicago, July 11 – iDreamSky Technology Holdings Ltd. reported that eligible bondholders agreed to sell back to the company approximately HK$758 million of the HK$775 million issue of 3.125% guaranteed convertible bonds due 2025 (ISIN: XS2241386874), according to a notice.

The bonds will be repurchased at HK$988,476.03 per HK$1 million bond, inclusive of the repurchase price and accrued interest.

The convertibles were issued by Dreambeyond Holdings Ltd., a subsidiary of the company, on Oct. 16, 2020.

BofA Securities/Merrill Lynch (Asia Pacific) Ltd. is acting as the dealer manager for the buyback.

The dealer manager was mandated to collect indications of interest on July 10.

The issuer may buy the remaining HK$17 million of bonds on the open market.

Based in Shenzhen, China, the guarantor publishes and operates third-party licensed games and self-developed games.

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