China Huiyuan Juice redeems $117.3 million 4% convertibles due 2016

By Marisa Wong

Madison, Wis., April 29 - China Huiyuan Juice Group Ltd. said it redeemed a total of $117.3 million, or 78.2%, of its $150 million 4% convertible bonds due 2016 on Tuesday.

Following the redemption, $32.7 million principal amount of the convertibles remains outstanding.

China Huiyuan Juice's board of directors said the redemption is in the ordinary course of business and does not materially impact the company's financial position.

The Beijing-based juice and non-alcoholic beverage maker issued the convertibles in April 2011.

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