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China SCE Group buys back $31 million more 5 7/8% notes due 2022
By Marisa Wong
Los Angeles, Feb. 16 – China SCE Group Holdings Ltd. repurchased an additional $31 million of its 5 7/8% senior notes due March 10, 2022, according to a company announcement.
The notes were purchased in the open market between Feb. 7 and Feb. 16.
The amount repurchased represents 6.2% of the $500 million principal amount originally issued.
After cancelation of the repurchased notes, $415 million principal amount will remain outstanding.
The company said it may make further buybacks of its senior notes as it monitors market conditions and its financing structure.
China SCE is a Xiamen, China-based property developer.
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