Hengyi Petrochemical (SHE:000703) triggered the early redemption of its 3 billion yuan convertible bonds.
The bonds, issued in 2022, carried a 1.8% coupon rate and a conversion price of 10.32 yuan per share after adjustments, according to a Wednesday filing with the Shenzhen bourse.
The company will redeem all unconverted bonds at 100.25 yuan each on Sept. 9.
Shares of the chemical fiber manufacturer declined 2% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.