Park24 to redeem ¥27.69 billion of convertibles due 2025

By Mary-Katherine Stinson

Lexington, Ky., Feb. 8 – Park24 Co. Ltd.’s board of directors resolved on Feb. 8 to repurchase ¥27.69 billion of its ¥35 billion zero-coupon convertible bonds due 2025, according to multiple company announcements.

The bonds will be redeemed on Feb. 28 for a total purchase price of ¥27,413,000,000.

The board of directors convened a meeting on Feb. 8 to gauge the interest of noteholders to sell up to the entire outstanding amount of ¥35 billion.

Nomura International plc is acting as sole dealer manager for the transaction.

The repurchased bonds will be canceled on March 16.

Following cancellation, ¥7.31 billion will remain outstanding.

The bonds were issued Oct. 29, 2018 and are listed on the Singapore Exchange.

The provider of parking facilities is based in Tokyo.

© 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.