Shanghai Industrial redeems HK$3.44 billion 0% convertibles due 2018

By Marisa Wong

Morgantown, W.Va., Feb. 18 – Shanghai Industrial Holdings Ltd. announced that wholly owned subsidiary Tong Jie Ltd. redeemed and cancelled HK$3,437,000,000 of its zero-coupon convertible bonds due 2018 on Thursday.

The bonds, representing 88.13% of the original HK$3.9 billion principal amount, were redeemed for HK$3,541,407,502.

With the current redemption and a previous repurchase of HK$323 million of the bonds, the remaining amount of bonds outstanding is HK$140 million.

Shanghai Industrial is based in Hong Kong and has businesses in infrastructure facilities, real estate and consumer products.

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