Sound Global redeems some 6% convertibles with 11 7/8% notes proceeds

By Marisa Wong

Madison, Wis., Sept. 18 - Sound Global Ltd. said it redeemed a portion of its 6% convertible bonds due 2015 on Sept. 17. Holders had exercised their put option for RMB 263 million of the convertibles.

The redemption was funded with proceeds from the company's $150 million issue of 11 7/8% senior notes due 2017 on Aug. 10.

Sound Global is a Beijing-based water and wastewater treatment provider.

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