China Cord Blood sells debt to group controlled by COB

|About: China Cord Blood Corpo... (CO)|By:, SA News Editor

China Cord Blood Corp. (CO +10.1%) agrees to sell its outstanding 7% senior convertible note due 2017 to Magnum Opus International Holdings and large shareholder Cordlife Group Limited for $88.1M.

Magnum Opus is controlled by CO Chairman Yuen Kam. It also involves the CO management team.

The note was originally issued to the company by Golden Meditech in 2012 with an aggregate principal amount of $50M.