China’s Golden Wheel Tiandi buys back $21.2 million more 9½% notes

By Marisa Wong

Morgantown, W.Va., July 5 – Golden Wheel Tiandi Holdings Co. Ltd. said it purchased a total of $21.2 million of its 9½% senior notes due 2017 in June. All of the purchased notes were canceled on Tuesday, according to a company announcement.

The company said it used internal resources to fund the buyback.

Currently, $59.7 million of the original $100 million principal amount remains outstanding. The company repurchased $19.1 million of the notes in April and May, as previously reported.

Golden Wheel Tiandi is a Hong Kong-based commercial and residential property developer, owner and operator that focuses on projects in China’s Jiangsu and Hunan provinces that are physically connected or in close proximity to metro stations or other transportation hubs.

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