CTF Services (HKG:0659) said it completed the previously announced repurchase of up to HK$780 million in outstanding 4.00% convertible bonds due in 2025, and the concurrent issue of HK$850 million in 2.80% convertible bonds due 2027, according to a Monday Hong Kong bourse filing.

Shares of the construction company were up over 1% at market close.

The company said HK$566 million of the existing notes were redeemed under its offer, while a further HK$74 million were fully converted into shares.

Proceeds from the new bond issue, which were listed on the Vienna Stock Exchange, were to be used primarily to fund the repurchase, CTF Services previously said.

Remaining proceeds were to go toward general corporate purposes.