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China Railway to trim conversion price on 0%, 1.5% bonds due 2021
By Marisa Wong
Morgantown, W.Va., July 17 – China Railway Construction Corp. Ltd. announced it will lower the conversion price of its $500 million zero-coupon convertible bonds due 2021 and its RMB 3.45 billion 1.5% dollar-settled convertible bonds due 2021.
The conversion price on the dollar bonds will be adjusted to HK$9.83 per H share from HK$10.02 per H share, and the conversion price on the renminbi bonds will be adjusted to HK$13.34 per H share from HK$13.59 per H share.
The changes, due to payment of a final dividend for the year ended Dec. 31, 2017, will take effect July 18.
The construction group is based in Beijing.
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