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Greentown holders put back RMB 2.13 billion 0% convertibles due 2012
By Marisa Wong
Milwaukee, May 18 - Greentown China Holdings Ltd. announced that holders of its renminbi-denominated dollar-settled zero-coupon convertible bonds due 2012 exercised the put option for approximately RMB 2.13 billion principal amount of the bonds.
The bonds were issued in 2007 and putable three years from the issue date.
The put bonds were redeemed on Tuesday. The amount payable to bondholders totaled about RMB 2.2 billion.
After the redemption, RMB 179.6 million of the bonds remains outstanding.
The Bank of New York Mellon is the trustee of the bonds.
Greentown is a Hangzhou, China-based residential property developer.
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