Country Garden cuts conversion price on convertible bonds due 2019

By Marisa Wong

Morgantown, W.Va., Sept. 18 – Country Garden Holdings. Co, Ltd. reduced the conversion price for its HK$15.6 billion zero-coupon secured guaranteed convertible bonds due 2019 to HK$18.29 per share from HK$18.65 per share.

The adjustment is due to an interim dividend for the six months ended June 30.

The new price will be effective from Sept. 19.

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.

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