YY Withdraws Proposed Offering Of $250 Mln Of Convertible Notes Due 2018

(RTTNews) - YY Inc. (YY), a revolutionary rich communication social platform, announced Monday that it has decided to withdraw its proposed offering of $250 million in aggregate principal amount of convertible notes due 2018.

On Thursday, YY Inc. had announced that it proposed to offer up to $250 million in aggregate principal amount of convertible senior notes due 2018, subject to market conditions and other factors. The company planned to grant to the initial purchasers a 30-day option to purchase up to an additional US$50 million principal amount of notes to cover over-allotments, if any.