China Singyes Solar trims conversion price of 5% bonds due 2019

By Susanna Moon

Chicago, June 15 – China Singyes Solar Technologies Holdings Ltd. said it reduced the conversion price of its RMB 930 million of 5% dollar-settled convertible bonds due 2019 for a dividend payout.

The conversion price is HK$15.41, effective June 13, adjusted from HK$15.72, according to a company notice.

The adjustment is due to approval of a final dividend of HK$0.07 per share for the year ended Dec. 31 at a shareholders meeting.

As of Thursday, the outstanding principal amount of the convertibles is RMB 816 million, which is convertible into 64,790,410 shares before the adjustment and 66,114,207 shares after the adjustment, the release noted.

China Singyes designs renewable energy systems and is based in Zhuhai, Guangdong, China.

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