Qiao Xing Universal Telephone (XING) to Acquire Outstanding Convertible Notes of Qiao Xing Mobile Communication From Three Noteholders
More News related to XING
- Qiao Xing Universal Telephone, Inc. Updates its Investor Relations Website
- Qiao Xing Universal Telephone, Inc. Restructured Its 2006 Unsecured Convertible Notes
- Qiao Xing Universal (XING) Said Subsidiary Recorded Material Loss, Delays 20-F
- Qiao Xing Universal Telephone (XING) to Acquire Outstanding Convertible Notes of Qiao Xing Mobile Communication From Three Noteholders
- Qiao Xing Universal's (XING) Chairman Plans to Purchase up to $10 Million Worth of Shares
More News related to Corporate News
- Hydrogenics Resumes Trading Under NASDAQ Symbol "HYGS"
- Varian Medical (VAR) to Highlight its New Range of Detectors at Annual RSNA Meeting in Chicago
- Manulife (MFC) Confirms No Exposure to Dubai World
- Activision's (ATVI) Call of Duty Amasses $3 Billion in Global Sales
- Seiko Epson to Transfer Sales Function of Small and Medium-Sized TFT LCD Business to Sony (SNE)
Qiao Xing Universal Telephone, Inc. (Nasdaq: XING) have signed agreement to purchase from the three noteholders (DKR SoundShore Oasis Holding Fund Ltd, CEDAR DKR Holding Fund Ltd and Chestnut Fund Ltd) US$30,000,000 of the outstanding convertible notes in principal of Qiao Xing Mobile Communication Co., Ltd ("Qiao Xing Mobile") for an aggregate purchase price of USD24 million.
Pursuant to the Sale and Purchase Agreement, the Company shall pay, in three instalments, an aggregate of USD24 million to the sellers on or before the close of business, New York time, on May 1, 2009.
Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributor of telecommunications products in China. [SM]
Related Categories
Corporate NewsStocks Mentioned
-0.05Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
