Mingfa issues clean-up call for 5.25% convertible bonds due 2016

By Marisa Wong

Madison, Wis., Feb. 7 - Mingfa Group (International) Co. Ltd. issued a notice of redemption to holders of its 5.25% convertible bonds due 2016 on Friday. The company will redeem its remaining 5.25% convertibles on March 10.

According to the notice, the company may call the bonds in whole if at least 90% of the original principal amount has already been converted, redeemed or purchased.

As of Friday, HK$11 million of the original HK$1.56 billion principal amount remains outstanding.

The property developer is based in Hong Kong.

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