Far East Horizon tallies buybacks from two series of notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., Feb. 5 – Far East Horizon Ltd. announced further repurchases from its original $500 million 2 5/8% notes due 2024 and its original RMB 1.7 billion 4.7% notes due 2024, according to an announcement.

The company bought back $7.92 million, or 1.58% of the initial principal, of the 2 5/8% notes and RMB 9 million, or 0.53% of the initial principal, of the 4.7% notes.

Far East has now redeemed a total principal of $57,944,000 of the 2 5/8% notes and RMB 281.4 million of the 4.7% notes, inclusive of these purchases.

The notes have been canceled, leaving $442,056,000, or 88.41%, of the 2 5/8% notes outstanding and RMB 1,418,600,000, or 83.45%, of the 4.7% notes outstanding.

The notes were issued under the company’s $4 billion medium-term note and perpetual securities program.

The financial services provider is based in Hong Kong.

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