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Country Garden buys back RMB 120 million more 2.5% convertibles
By Angela McDaniels
Tacoma, Wash., May 25 - Country Garden Holdings Co. Ltd. repurchased an additional RMB 120 million of its dollar-settled 2.5% convertible bonds due 2013 via an over-the-counter market transaction on May 25, according to a company news release.
The convertibles will be canceled after settling on May 28, leaving RMB 2,013,100,000 principal amount outstanding.
As previously reported, the company announced the repurchase of RMB 214.4 million of the convertibles on May 24, RMB 200 million on May 6, RMB 110 million on May 5, RMB 485.8 million on May 4 and RMB 390 million on April 28.
In addition, the company 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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