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MicroPort will buy $217 million of zero-coupon convertibles due 2026
Chicago, Dec. 6 – MicroPort Scientific Corp. will be buying back $217 million of its zero-coupon convertible bonds due June 11, 2026 (ISIN: XS2342920050) after the company asked bondholders if they would be interested in selling their bonds on Tuesday, according to a notice.
The company is paying a repurchase price of 99.
Settlement for the repurchase will be Dec. 19.
The buyback will leave $448 million of the bonds outstanding, which the company may continue to purchase on the open market.
J.P. Morgan Securities plc, China International Capital Corp. Hong Kong Securities Ltd., Citigroup Global Markets Ltd. and Merrill Lynch (Asia Pacific) Ltd. were the dealer managers for the buyback.
MicroPort also announced on Wednesday that it was selling $220 million of 5.75% convertibles due 2028 in a new offering.
MicroPort is a global medical device developer and manufacturer with headquarters in Shanghai.
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