LVGEM (China) extends maturity on $70 million 5.5% convertibles

By Taylor Fox

New York, Nov. 18 – LVGEM (China) Real Estate Investment Co. Ltd. extended the maturity of a $70 million equivalent portion of its original $100 million 5.5% convertible bonds to May 18, 2022 from Nov. 18, 2020.

Of the other $30 million principal amount of the convertibles, as of Wednesday, holders had converted $10 million of the bonds into 28,794,063 conversion shares, according to an announcement. Another $20 million was redeemed by the company on a previously extended maturity date of Nov. 18, 2020.

The convertibles were issued on Nov. 18, 2016.

LVGEM is a real estate developer based in Hong Kong.

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