Hong Kong's Fu Ji Food to redeem HK$20 million 0% convertibles

By Jennifer Chiou

New York, Jan. 5 - Hong Kong's Fu Ji Food and Catering Services Holdings Ltd. announced the redemption of all remaining HK$20 million of its zero-coupon convertible bonds due Oct. 14, 2010.

The redemption date is Feb. 8.

The conversion price as of Friday is HK$10.125 per share. Fu Ji Food's stock closed at HK$19.84 on Friday.

The company noted that it will pay a total of HK$21,549,920, which includes accrued interest.

Fu Ji Foods, a provider catering and restaurant services and convenience food products in China, said the redemption is to help reduce its debt leverage.

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