Far East Horizon announces partial bond cancellation due to conversion

Far East Horizon Limited (HKEX:3360) announced today, through Universe Trek Limited, the partial cancellation of its U.S.$300,000,000 2.50 per cent. Guaranteed Convertible Bonds due 2025 (Stock Code: 40295) following conversion by bondholders and a company redemption. As of June 6, 2025, U.S.$34,000,000 worth of bonds, representing 11.33% of the initial aggregate principal, has been redeemed and cancelled. Of this amount, U.S.$24,000,000 was converted at HK$5.19 per share, resulting in the issuance of 35,839,536 new shares, which represents 0.82% of Far East Horizon's share capital. Additionally, U.S.$10,000,000 of the bonds were redeemed by the company in August 2023. The remaining outstanding principal is U.S.$266,000,000, representing approximately 88.67% of the initial total. The company stated that future announcements will be made following each subsequent 5% interval of converted and cancelled bonds.