China Railway Construction to trim conversion price on $500 million convertible notes due 2021

By Taylor Fox

Chicago, July 24 – China Railway Construction Corp. Ltd. announced it will again lower the conversion price of its $500 million zero-coupon convertible bonds due 2021, according to an announcement.

The conversion price on the dollar bonds will be adjusted to HK$9.44 per H share from HK$9.65 per H share, effective July 25.

The maximum number of H shares that will be issued upon conversion of all outstanding bonds at the existing conversion price and the adjusted conversion price are 403,854,922 H shares and 412,838,983 H shares, respectively, at the predetermined exchange rate of $1 to HK $7.7944.

The construction group is based in Beijing.

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