Sino Grandness holders plan to extend 0% convertibles by one month

By Susanna Moon

Chicago, June 26 – Sino Grandness Food Industry Group Ltd. said holders of its RMB 80.5 million 0% convertible bonds notified the company of their intention to extend the maturity to July 25, 2015.

The convertibles were set to mature June 30, 2015.

The bonds were issued by Garden Fresh (HK) Fruit & Vegetable Beverage Co., Ltd., the company’s wholly owned subsidiary.

The company said on Oct. 29, 2014 that it repurchase some of the 0% convertibles, reducing the total outstanding principal amount to RMB 80.5 million from RMB 100 million.

The maturity of the outstanding bonds also was extended at that time to June 30, 2015 from Oct. 19, 2014.

Based in Shenzhen, China, Sino Grandness is a manufacturer and distributor of bottled juices and canned fruits and vegetables.

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