Hong Kong’s Shimao Property to redeem all 11% notes due 2018

By Marisa Wong

Madison, Wis., Feb. 6 – Shimao Property Holdings Ltd. announced it will redeem its outstanding 11% senior notes due 2018 in full on March 8.

The notes will be redeemed at a price of 105.5 plus accrued interest to the redemption date.

As of Wednesday, the outstanding principal amount is $350 million.

Shimao said it will use proceeds from its recent offering of 8 3/8% notes due 2022 to fund the redemption.

The real estate development company is based in Hong Kong.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.