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Viva Biotech completes redemption of 1% convertible bonds due 2025
By Mary Katherine Stinson
Lexington, Ky., Jan. 3 – Viva Biotech Holdings completed the redemption of the remaining balance of its $280 million issue of 1% guaranteed convertible bonds due 2025, according to a notice.
Under the bonds’ conditions, holders of $136.6 million of the convertibles, representing 48.8% of the aggregate principal amount, have exercised their option to require the issuer to redeem all their bonds on Dec. 30 at 103.08 together with accrued interest.
All the convertible bonds have been redeemed and none remain outstanding.
The bonds will be withdrawn from the Hong Kong Exchange effective on Jan. 10.
The bonds were issued in December 2020 by wholly owned subsidiary Viva Biotech Investment Management Ltd.
Viva Biotech is a Shanghai-based pre-discovery drug discovery service provider.
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