YY - JOYY issues repurchase right notification for 2025 Notes

2023-04-17 06:36:53 ET

• JOYY ( NASDAQ: YY ) has issued a repurchase right notification for holders of its 0.750% Convertible Senior Notes due 2025.
• Pursuant to the indenture dated as of June 24, 2019, each holder has the right to require the company to repurchase for cash on June 15, 2023 all of such holder's 2025 Notes or any portion thereof that is an integral multiple of US$1,000 principal amount at a price equal to 100% of the principal amount of the notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the repurchase date.
• The right becomes exercisable on May 12, 2023 9:00 a.m. ET and expires at 5:00 p.m. ET on June 13, 2023.
• If all outstanding notes are surrendered for repurchase through exercise of the repurchase right, the aggregate cash repurchase price will be $432.23M.
• As of April 17, 2023, $432.23M in aggregate principal amount of the notes were outstanding.

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