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Dongwu Cement redeems all RMB 110 million of its 6˝% perpetual bonds
By Sarah Lizee
Olympia, Wash., May 6 – Hong Kong’s Dongwu Cement International Ltd. said it redeemed all RMB 110 million of its 6˝% perpetual bonds on May 6.
On Dec. 23, Suzhou Dongwu and the issuer entered into the perpetual bond investment agreement, under which Suzhou Dongwu agreed to subscribe for the bonds.
On May 6 Suzhou Dongwu entered into a supplemental agreement of the perpetual bond investment agreement with the issuer, under which the issuer agreed to redeem the bonds fully in cash.
Up to the redemption date, the interest accrued on bond is about RMB 2.6 million, which has been fully paid by the issuer to Suzhou Dongwu.
The building materials company is based in Hong Kong.
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