Chaoda Modern Agriculture holders put back 94% of 0% convertibles due 2011 at 115.97

By Jennifer Chiou

New York, April 22 - Chaoda Modern Agriculture (Holdings) Ltd. announced that holders of HK$1.23 billion, or about 94%, of its HK$1.34 billion of zero-coupon secured convertible bonds due 2011 have notified the company that they are exercising their put rights.

The company is required to redeem the bonds at 115.97 on May 8 and will pay about HK$1.42 billion for the bonds.

Those bonds will be canceled, leaving HK$82.72 million of bonds outstanding. Those remaining securities will then be called.

Chaoda is a Fuzhou, China, and Wanchai, Hong Kong-based organic farming company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.