Ying Li buys back S$5 million 4% convertibles at 90.25 in open market

By Jennifer Chiou

New York, Aug. 3 - Ying Li International Real Estate Ltd.'s board announced the repurchase of S$5 million of its original S$200 million of 4% senior unsecured convertible bonds due 2015 at a price of 90.25.

The convertibles were repurchased in the open market as part of the company's effort to manage its balance sheet.

The Singapore-based property developer priced the securities in January 2010 to yield 6.5% with an initial conversion premium of 30.6%.

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