Far East Horizon adjusts conversion prices of 2025, 2026 convertibles

Chicago, June 24 – Far East Horizon Ltd. adjusted the conversion prices for its $300 million 2.5% guaranteed convertible bonds due 2025 and its $250 million zero-coupon guaranteed convertible bonds due 2026, according to an announcement.

At the annual general meeting, shareholders approved a dividend of HK$0.42 per share for the year ended Dec. 31, 2021 payable to shareholders of record as of June 17.

Because of the dividend, the conversion price on the bonds due 2025 is being adjusted downwards to HK$7.11 per share from HK$7.58 per share and the price on the 2026 bonds is being lowered to HK$9.16 per share from HK$9.76 per share.

The adjustments will be effective from June 30.

The bonds are guaranteed by Universe Trek Ltd.

Other terms of the convertibles are unchanged, the company noted.

The financial services provider is based in Hong Kong.

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