ZTO Express Announces Repurchase Right Notification for 1.50% Convertible Senior Notes due 2027
ZTO Express (NYSE: ZTO), a leading Chinese express delivery company, has announced a repurchase right notification for holders of its 1.50% Convertible Senior Notes due 2027. Noteholders have the right to require ZTO to repurchase their notes at 100% of the principal amount plus accrued interest on September 2, 2025.
The repurchase right applies to the outstanding US$1 billion in aggregate principal amount of notes. Holders can exercise this right from July 30, 2025, until 5:00 p.m., New York City time, on August 28, 2025. The company will file a Tender Offer Statement on Schedule TO with the SEC detailing the terms and procedures.
ZTO Express (NYSE: ZTO), una delle principali societ脿 cinesi di consegna espressa, ha annunciato una notifica di diritto di riacquisto per i detentori dei suoi Note Senior Convertibili al 1,50% con scadenza 2027. I detentori hanno il diritto di richiedere a ZTO il riacquisto delle loro note al 100% del valore nominale pi霉 gli interessi maturati il 2 settembre 2025.
Il diritto di riacquisto si applica all'importo nominale complessivo residuo di 1 miliardo di dollari USA delle note. I detentori possono esercitare questo diritto dal 30 luglio 2025 fino alle 17:00, ora di New York, del 28 agosto 2025. La societ脿 presenter脿 alla SEC una Dichiarazione di Offerta di Acquisto secondo il modulo Schedule TO con i dettagli sulle condizioni e procedure.
ZTO Express (NYSE: ZTO), una destacada empresa china de mensajer铆a expr茅s, ha anunciado una notificaci贸n de derecho de recompra para los titulares de sus Notas Senior Convertibles al 1.50% con vencimiento en 2027. Los tenedores tienen el derecho de exigir a ZTO la recompra de sus notas al 100% del valor principal m谩s los intereses devengados el 2 de septiembre de 2025.
El derecho de recompra se aplica al monto principal pendiente total de 1.000 millones de d贸lares estadounidenses en notas. Los titulares pueden ejercer este derecho desde el 30 de julio de 2025 hasta las 5:00 p.m., hora de Nueva York, el 28 de agosto de 2025. La compa帽铆a presentar谩 una Declaraci贸n de Oferta de Compra en el Schedule TO ante la SEC con los t茅rminos y procedimientos detallados.
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ZTO Express (NYSE : ZTO), une entreprise chinoise majeure de livraison express, a annonc茅 une notification de droit de rachat pour les d茅tenteurs de ses Obligations Senior Convertibles 脿 1,50 % arrivant 脿 茅ch茅ance en 2027. Les porteurs ont le droit d鈥檈xiger que ZTO rach猫te leurs obligations 脿 100 % du montant principal plus les int茅r锚ts courus le 2 septembre 2025.
Le droit de rachat s鈥檃pplique au montant principal total en circulation de 1 milliard de dollars US. Les d茅tenteurs peuvent exercer ce droit du 30 juillet 2025 jusqu鈥櫭� 17h00, heure de New York, le 28 ao没t 2025. La soci茅t茅 d茅posera aupr猫s de la SEC une d茅claration d鈥檕ffre publique d鈥檃chat selon le Schedule TO d茅taillant les modalit茅s et proc茅dures.
ZTO Express (NYSE: ZTO), ein f眉hrendes chinesisches Expresslieferunternehmen, hat eine Mitteilung 眉ber ein R眉ckkaufrecht f眉r Inhaber seiner 1,50% Wandelschuldverschreibungen mit F盲lligkeit 2027 ver枚ffentlicht. Anleihegl盲ubiger haben das Recht, ZTO am 2. September 2025 zum R眉ckkauf ihrer Schuldverschreibungen zum 100% des Nennbetrags zuz眉glich aufgelaufener Zinsen aufzufordern.
Das R眉ckkaufrecht gilt f眉r den ausstehenden Gesamtnennbetrag von 1 Milliarde US-Dollar. Die Inhaber k枚nnen dieses Recht vom 30. Juli 2025 bis 17:00 Uhr New Yorker Zeit am 28. August 2025 aus眉ben. Das Unternehmen wird eine Tender Offer-Erkl盲rung im Schedule TO bei der SEC einreichen, die die Bedingungen und Verfahren detailliert beschreibt.
- None.
- Potential significant cash outflow of up to US$1 billion if all noteholders exercise their repurchase right
Insights
ZTO Express notifying bondholders of $1B convertible notes repurchase option, potentially triggering significant cash outflow by September 2025.
ZTO Express has initiated a formal notification process for holders of its
The repurchase right represents a potential significant cash outflow for ZTO if bondholders choose to exercise this option. With the full
This event highlights the unique structure of convertible bonds, which typically include periodic investor put options as protection mechanisms. The pricing - at par value plus accrued interest - follows standard market convention for such provisions. The timing aligns with the approximately three-year mark from the original August 2022 issuance, a common interval for repurchase rights in convertible securities.
For ZTO, the key financial implication centers on liquidity management. The company must ensure sufficient cash reserves to satisfy potential repurchase demands, which could theoretically require the full
As required by rules of the United States Securities and Exchange Commission (the "SEC"), the Company will file a Tender Offer Statement on Schedule TO which includes documents specifying the terms, conditions and procedures for exercising the Repurchase Right. None of the Company, its board of directors or its employees has made or is making any representation or recommendation to any holder as to whether to exercise or refrain from exercising the Repurchase Right.
The Repurchase Right entitles each holder of the Notes to require the Company to repurchase all of such holder's Notes or any portion thereof that is an integral multiple of
The opportunity for holders of the Notes to exercise the Repurchase Right commences at 9:00 a.m.,
This press release is for information only and is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell the Notes or any other securities of the Company. The offer to purchase the Notes will be only pursuant to, and the Notes may be tendered only in accordance with, the Company's Repurchase Right Notice dated July 30, 2025 and related documents.
Holders of the Notes should refer to the Indenture for a complete description of repurchase procedures and direct any questions concerning the mechanics of repurchase to the Trustee by contacting Citibank, N.A. at [email protected] or [email protected].
HOLDERS OF NOTES AND OTHER INTERESTED PARTIES ARE URGED TO READ THE COMPANY'S SCHEDULE TO, REPURCHASE RIGHT NOTICE AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ZTO EXPRESS (CAYMAN) INC. AND THE REPURCHASE RIGHT.
Materials filed with the SEC will be available electronically without charge at the SEC's website,聽. Documents filed with the SEC may also be obtained without charge at the Company's website, .
About ZTO Express (Cayman) Inc.
ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057) ("ZTO" or the "Company") is a leading and fast-growing express delivery company in
ZTO operates a highly scalable network partner model, which the Company believes is best suited to support the significant growth of e-commerce in
For more information, please visit: .
For investor and media inquiries, please contact:
ZTO Express (Cayman) Inc.
Investor Relations
E-mail: [email protected]
Phone: +86 21 5980 4508
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SOURCE ZTO Express (Cayman) Inc.
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