iDreamSky completes buyback of 3.125% convertible bonds due 2025

By Mary-Katherine Stinson

Lexington, Ky., Oct. 12 – iDreamSky Technology Holdings Ltd. has completed the full repurchase of its HK$775 million issue of 3.125% guaranteed convertible bonds due Oct. 16, 2025 (ISIN: XS2241386874), according to a notice.

The bondholders of the remaining outstanding HK$17 million exercised their put option, requiring the company to repurchase the bonds at par.

As a result of a previous repurchase and the put option exercise, all the outstanding bonds have been canceled and will be delisted from the Singapore Exchange effective Oct. 17.

As previously reported on July 11, eligible bondholders agreed to sell back to the company approximately HK$758 million of the bonds. They were repurchased at HK$988,476.03 per HK$1 million bond, inclusive of the repurchase price and accrued interest.

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

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

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