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Apollo Future Mobility to redeem two series of convertibles in October
By Mary-Katherine Stinson
Lexington, Ky., Sept. 8 – Apollo Future Mobility Group Ltd. and its subsidiaries plan to redeem two series of convertible bonds in October, according to a notice.
The 9% convertible bonds due 2024 are comprised of convertible bonds A, of which HK$78 million is outstanding, and convertible bonds B, of which HK$85.8 billion is outstanding.
The convertible bonds A will be redeemed at par on Oct. 18, while the convertible bonds B will be redeemed at par on Oct. 4.
The terms of the convertible bonds A dictate that the maturity date will be on Oct. 17, 2024 or, if the holder has notified the company of a change of maturity, Oct. 17, 2023.
Similarly, the terms of the convertible bonds B dictate that the maturity date will be on Oct. 4, 2024 or, if the holder has notified the company of a change of maturity, Oct. 4, 2023.
The early redemption amount, totaling about HK$171.2 million including accrued interest, will be satisfied by internal resources of the group and/or external financings if necessary.
The convertible bonds A were originally issued on Sept. 9, 2021, and the convertible bonds B were issued on Sept. 13, 2021.
Apollo Future Mobility is a Hong Kong-based luxury mobility technology company focused on electrification of vehicles, connected and autonomous vehicles and mobility-as-a-service.
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