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Zhou Hei Ya completes redemption of HK$1.55 billion 1% convertibles
By William Gullotti
Buffalo, N.Y., Nov. 7 – Zhou Hei Ya International Holdings Co., Ltd. completed the redemption of its HK$1.55 billion issue of 1% convertible bonds due 2025, according to a notice on Tuesday.
Holders of the remaining HK$248 million convertibles, representing 16% of the initial issue, exercised put rights on Nov. 5.
The company redeemed the put convertibles at 103.86, plus accrued and unpaid interest, on Nov. 6.
With the redemption and subsequent cancellation of the convertibles complete, the bonds are expected to be delisted from the Hong Kong Exchange at the close of business on Nov. 15.
Zhou Hei Ya is a Wuhan, China-based food products company.
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