Ying Li International holders put back all S$195 million convertibles

By Marisa Wong

Madison, Wis., March 7 - Ying Li International Real Estate Ltd. announced that holders exercised a put option for its S$195 million of outstanding 4% convertible bonds due 2015.

The company redeemed the put bonds on March 3. Following their cancellation, there will be no 4% convertibles outstanding.

The Singapore-based property developer priced S$200 million of the securities in January 2010 to yield 6.5% with an initial conversion premium of 30.6% and repurchased S$5 million of the convertibles in August 2011.

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