Country Garden lowers conversion price on convertibles due 2023

By Wendy Van Sickle

Columbus, Ohio, Sept. 12 – 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$11.90 per share from HK$12.20 per share.

The adjustment is due to payment of the final dividend.

The new price will be effective from Sept. 12.

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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