Tianjin Capital calls convertible bonds

By Jennifer Chiou

New York, July 30 - Tianjin Capital Environmental Protection Co. Ltd. announced the Aug. 28 redemption of its convertible bonds.

The redemption price is 102% plus accrued interest, which is RMB 106.7 per bond, including interest of RMB 4.70.

The company called the securities after meeting the condition that its shares during 20 business days within any 30 consecutive business days do not close lower than 130% of the conversion price of the bonds, or RMB 4.95 per share.

On June 25, the company said that it lowered the conversion price on its convertible bonds to RMB 3.82 per share from RMB 3.86 per share, effective July 2.

Tianjin Capital Environmental is a Tianjin, China-based water and sewage treatment company.

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