The debt-to-equity ratio of Hon Kwok Land to remain at 45%

Wong Sai Wing James, chairman of Hon Kwok Land Investment Company (0160), said at the special board meeting that the proposal of issuing HK$300 mln convertible bonds was approved. These convertible bonds are mainly used for paying the US$54 mln bonds, which will expire in July. After issuing and paying the bonds, the debt-to-equity ratio of the company will still remain at 45%, while the cash circulation will be increased. 

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