China Sun repurchases $11.4 million in zero-coupon convertible bonds

By Devika Patel

Knoxville, Tenn., March 11 - China Sun Bio-chem Technology Group Co. Ltd. said it has bought back $11.4 million of its $100 million of zero-coupon convertible bonds due 2011.

The company is continuing to explore ways to resolve issues with its convertibles. It has received cancellations of put options on $1.5 million of the bonds; the total put amount now stands at $60.6 million.

China Sun is a Beijing-based investment holding company.

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