Jinan Acetate to redeem domestic second convertible corporate bonds

By Mary-Katherine Stinson

Lexington, Ky., Sept. 20 – Jinan Acetate Chemical Co., Ltd. issued a clean-up call for its domestic second unsecured convertible corporate bonds, according to an announcement.

Bondholders who do not submit a written conversion request by Nov. 8 will have their entire bonds redeemed at par. The early redemption date will be Nov. 9.

The notification and acceptance period of redemption is from Oct. 11 to Nov. 9.

Under the terms of the bonds, the company may redeem the bonds with a 30-day bond redemption notice if the bond’s balance falls below 10% of the total issuance.

Grand Fortune Securities is the stockholder affair agency.

Based in the Shandong Province of China, the issuer manufactures quality cellulose acetate tow.

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