China’s Country Garden completes redemption of $900 million 11 1/8% notes

By Jennifer Chiou

New York, March 30 – Country Garden Holdings Co. Ltd. announced the full redemption of its $900 million of outstanding 11 1/8% senior notes due 2018 on March 29.

The notes were redeemed at 105.5625 plus accrued interest to the redemption date, amounting to a total redemption price of $960,075,000.

The company previously said it planned to use proceeds of its new 7½% senior notes to fund the redemption.

Country Garden is a Foshan, China-based real estate developer focused on large-scale residential communities.

© 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.