China’s Hydoo noteholder exercises put on $40 million of convertibles

By Susanna Moon

Chicago, Jan. 15 – Hydoo International Holding Ltd. said a noteholder exercised a put option Thursday for $40 million of its $120 million outstanding convertible notes.

The notes will be redeemed for an early redemption amount of $43,594,100 on Friday, according to a company notice.

After the redemption, the outstanding principal amount of the convertibles will be $80 million.

The early redemption will be settled in cash from the company’s internal resources.

Hydoo is a Shenzhen, China-based developer and operator of large-scale trade centers in China.

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