Far East Horizon Cancels Bonds Following Conversion
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Far East Horizon has canceled $20.9 million of convertible bonds issued in 2020, which is 6.97% of the initial principal. This cancellation follows the conversion of the bonds into 31,217,730 shares at HK$5.19 each. Currently, $245.1 million of the bonds, or 81.7% of the initial amount, remain outstanding. Universe Trek had issued $300 million of 2.5% guaranteed convertible bonds due in 2025.
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