Huayou Cobalt convertible bonds near early redemption trigger

Zhejiang Huayou Cobalt's convertible bonds are approaching conditions for early redemption after the stock closed at or above 130% of the conversion price for ten trading days within a 21-day period.

The bonds, worth 7.6 billion yuan and issued in February 2022, will trigger the redemption clause if the stock maintains performance above 44.759 yuan per share for five more trading days within the next nine consecutive trading days.

If triggered, the company can redeem all or part of unconverted bonds at face value plus accrued interest.