China Overseas holders put $902.6 million of zero-coupon bonds

By Sarah Lizee

Olympia, Wash., Jan. 7 – China Overseas Holdings Ltd. subsidiary China Overseas Finance Investment (Cayman) V Ltd.’s $1.5 billion zero-coupon guaranteed exchangeable bonds due 2023 were putable at 111.54 on Jan. 5, according to a notice.

Put notices were served to the issuer for $902.6 million of the bonds. The redemption price was $1,006,760,040.

The company used bank borrowings for the redemption.

As of Jan. 8, $597.4 million of the notes remain outstanding.

China Overseas is a Hong Kong-based construction and development company.

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