Viva Biotech completes full redemption of 2.5% convertibles due 2025

By Mary-Katherine Stinson

Lexington, Ky., Feb. 28 – Viva Biotech Holdings reported that none of its 2.5% guaranteed convertible bonds due 2025 remain outstanding after bondholders holding a total of $6.6 million, or 3.7%, of the bonds exercised their option to require the issuer to redeem all their convertible bonds on Feb. 11 at 104.73, according to a notice.

Accrued interest was also paid.

The bonds will be withdrawn from the Stock Exchange of Hong Kong Ltd. effective March 7.

Originally, the issue size was $180 million.

The bonds were issued by wholly owned subsidiary Viva Incubator Investment Management Ltd.

Viva Biotech is a Shanghai-based pre-discovery drug discovery service provider.

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