ZTO Express announced that it is notifying holders of its 1.50% Convertible Senior Notes due 2027 (CUSIP No. 98980AAB1) of their right to require the company to repurchase the Notes. This notification is in accordance with the Indenture dated August 29, 2022.
The repurchase right allows holders, at their option, to require ZTO to buy back their Notes. This is a standard provision for convertible senior notes, providing liquidity to bondholders.
This event could impact the company's outstanding debt and potentially its capital structure, depending on how many bondholders exercise their repurchase right. The company will provide cash payment for any validly exercised repurchase rights.
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