Yinlun Machinery Becomes Eligible to Redeem 700 Million Yuan Convertible Bonds

MT Newswires Live
Jun 09

Zhejiang Yinlun Machinery (SHE:002126) said it is eligible to redeem convertible bonds worth 700 million yuan after the early redemption clause was triggered, according to a Shenzhen bourse filing on Tuesday.

The six-year Yinlun Convertible Bond was issued in 2021 and has a conversion price of 10.27 yuan per share.

The auto parts manufacturer has the option to redeem the bond if its stock closes at or above 130% of its current conversion price within 15 trading days. The company's stock closed at or above 13.35 yuan per share between May 27 and June 8.

The board of directors plans to conduct a meeting to discuss whether to redeem the convertible bonds early or not.

The company's shares rose 2% during the morning trade.

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