China’s Country Garden to redeem 7½% senior notes due 2023

New York, Jan. 18 – Country Garden Holdings Co. Ltd. will redeem its $750 million of 7½% senior notes due 2023 on Feb. 20, according to an announcement from the issuer.

Holders will receive 103.75% of par plus accrued interest up to but excluding the redemption dat.

The company priced $850 million of new notes in two parts on Jan. 9 and said at the time it would use the proceeds to redeem the 7½% notes and for general corporate purposes.

Country Garden is a Foshan, China real estate developer.

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