China Merchants buys $269.8 million of 0.5% convertibles after put

By Marisa Wong

Morgantown, W.Va., June 22 – Cosmos Boom Investment Ltd. redeemed $269.8 million of its 0.5% convertible bonds due 2020 guaranteed by China Merchants Land Ltd. on exercise of the put option, according to a notice.

The bonds were putable at par plus accrued interest to June 23, the put option date.

The issuer said it used internal resources and bank borrowings to fund the early redemption.

Following the redemption, there is $20.2 million of the bonds outstanding.

Hong-Kong-based China Merchants is a real estate development company focused on properties in mainland China.

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