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Country Garden repurchases RMB 200 million more 2.5% convertibles
New York, May 6 - Country Garden Holdings Co. Ltd. announced the further buyback of RMB 200 million of its dollar-settled 2.5% convertible bonds due 2013 via an over-the-counter market transaction on Thursday.
The bonds will be canceled after settling on May 11, leaving RMB 2,347,500,000 principal amount outstanding.
On May 5, the company said it bought back RMB 110 million of the convertibles. That followed the announcement on May 4 of a RMB 485.8 million repurchase.
As previously reported, the company settled the repurchase of RMB 390 million of the convertibles on May 3, and it repurchased RMB 780.7 million of the convertibles in a tender offer that ended April 13.
Country Garden is a Hong Kong-based property developer.
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