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iDreamSky to repurchase 3.125% guaranteed convertibles due 2025
By William Gullotti
Buffalo, N.Y., July 10 – iDreamSky Technology Holdings Ltd. entered into an agreement with Merrill Lynch (Asia Pacific) Ltd., as dealer manager, to commence the repurchase process of HK$775 million 3.125% guaranteed convertible bonds due Oct. 16, 2025 (ISIN: XS2241386874), according to a notice on Monday.
The convertibles were issued by Dreambeyond Holdings Ltd., a subsidiary of the company, on Oct. 16, 2020 and listed three days later on the Singapore Exchange.
The parent company is the guarantor for the convertibles.
The dealer manager, also the original lead manager and bookrunner for the convertibles, has only been mandated to collect indication of interest ahead of the intended buyback. According to the notice, further announcements will be made as and when appropriate.
Based in Shenzhen, China, the guarantor publishes and operates third-party licensed games and self-developed games.
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