BEST repurchases, cancels $95 million of 1.75% convertibles due 2024

By Mary-Katherine Stinson

Lexington, Ky., July 1 – BEST Inc. repurchased and canceled approximately $95 million of its 1.75% convertible senior notes due 2024 (Cusip: 08653CAB2), according to a 6-K filing with the Securities and Exchange Commission.

The repurchases were made in multiple privately negotiated transactions between BEST and certain noteholders.

After the repurchases, approximately $105 million of the notes are outstanding.

BEST is an integrated smart supply chain solutions and logistics services provider in China.

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