China’s Radiance repays 7.8% senior green notes due 2024

By Marisa Wong

Los Angeles, April 15 – Radiance Holdings (Group) Co. Ltd. issued an update on Monday regarding its $300 million 7.8% senior green notes due March 20, 2024.

On April 15 the company deposited all necessary funds into the designated bank account of the trustee for redemption of the 2024 notes at their outstanding principal amount, together with interest accrued.

The company said it believes there will be no material impact on its financial position as a result of the redemption of the 2024 notes.

Upon completion of the redemption, the 2024 notes have been settled, and the group has settled all of its credit bonds in the open market.

As previously reported, the company had failed to pay the bonds’ outstanding principal amount and accrued interest on the maturity date.

At the time, the company said it was using its best efforts to seek a solution and was maintaining close communications with the noteholders.

The real estate development company is based in Beijing.

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