trending Market Intelligence /marketintelligence/en/news-insights/trending/uomi7vcuijyfm1jpwg4xeg2 content esgSubNav
In This List

Country Garden to adjust conversion price for HK$15.6B of bonds

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Country Garden to adjust conversion price for HK$15.6B of bonds

Country Garden Holdings Co. Ltd. said the per-share conversion price for the HK$15.60 billion bonds issued by its subsidiary, Smart Insight International Ltd., will be adjusted to HK$20.15 from HK$20.556.

The adjustment was due to the 24.95-yuan-per-share final dividend for the year ended Dec. 31, 2017, that was recommended by the company's board, which was stipulated under the adjustment provisions of the bonds' terms and conditions.

Following the price adjustment, up to 774,193,548 shares will be issued bearing the adjusted conversion price based on the bonds' outstanding amount, while a maximum of 758,902,510 shares will issued at the earlier conversion price.

The bonds will mature Jan. 27, 2019, and net proceeds from the issuance will go toward repayment of the group's debt and/or as general working capital.

As of May 29,. US$1 was equivalent to 6.42 yuan.