China’s Country Garden to redeem 7 7/8% notes on Aug. 25 at 103.9375

By Wendy Van Sickle

Columbus, Ohio, July 26 – Country Garden Holdings Co. Ltd. announced it will redeem its outstanding 7 7/8% senior notes due 2019 in full on Aug. 25.

The notes will be redeemed at 103.9375 plus accrued interest to the redemption date.

As of Wednesday, there is $550 million of the 7 7/8% notes outstanding.

The company said it plans to use proceeds of its new 4¾% senior notes due 2022 to fund the redemption.

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

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