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SPG Land announces clean-up call for 0% convertible bonds due 2012
By Marisa Wong
Madison, Wis., Sept. 20 - SPG Land (Holdings) Ltd. gave notice of a clean-up call for the remaining amount of its RMB 1,158,000,000 dollar-settled zero-coupon convertible bonds due 2012.
The company said that at least 90% in principal amount of the bonds has already been converted, redeemed or purchased and cancelled.
The total outstanding principal amount of the bonds as of Sept. 20 is RMB 71.9 million.
The bonds will be redeemed on Oct. 27 at a price of RMB 108,145.82 per RMB 100,000 principal amount.
SPG Land is a residential and hotel property developer in Hong Kong.
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