Country Garden lowers conversion price on convertibles due 2023

By Marisa Wong

Los Angeles, June 1 – Country Garden Holdings. Co, Ltd. reduced the conversion price for its HK$7.83 billion 4.5% secured guaranteed convertible bonds due 2023 to HK$11.43 per share from HK$11.90 per share.

The adjustment is due to a final dividend for the year ended Dec. 31 that will be paid on Aug. 12, according to a notice.

The new price will be effective from June 1.

The bonds were originally issued by Smart Insight International Ltd. and are guaranteed by Country Garden.

Country Garden is a Foshan, China, real estate developer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.