Giftee (TYO:4449) disclosed a partial early redemption of its 5.5 billion yen zero coupon convertible bonds due 2026, set for Dec. 14, according to a Thursday filing on the Tokyo Stock Exchange.
The redemption follows a bondholder request under the bond's early redemption option, the filing said.
The company will borrow 1.9 billion yen from multiple financial institutions to fund the redemption, with the loan scheduled for disbursement in early December, according to the filing.
Giftee also plans to enter into an overdraft agreement with a 3 billion yen limit.
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