Fang settles $394.3 million of put 2% convertible notes due 2018

By Marisa Wong

Morgantown, W.Va., Dec. 22 – Fang Holdings Ltd. completed the repurchase of $394.3 million, or 98.6%, of its outstanding 2% convertible senior notes due 2018 on Dec. 15, according to an 8-K filed Thursday with the Securities and Exchange Commission.

Last month, the company notified holders of a put option. The repurchase price was par plus accrued interest.

Fang Holdings, formerly SouFun Holdings Ltd., operates as a real estate internet portal in Beijing.

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