Zhejiang Expressway redeems €202.6 million put convertibles due 2026

By William Gullotti

Buffalo, N.Y., Jan. 22 – Zhejiang Expressway Co. Ltd. redeemed €202.6 million of its €230 million zero-coupon convertible bonds due 2026 due to put options exercised on Jan. 20, according to an announcement on Monday.

Following the early redemption, €27.4 million of the convertibles remained outstanding.

The outstanding convertibles have the rights to convert into 38,968,206 H shares, based on the most recently reported conversion price of HK$6.69 per H share, representing approximately 1.9694% of the 1,978,719,210 issued H shares as of Monday.

Zhejiang is an infrastructure company based in Hangzhou, China.

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