Fufeng buys back some 5 7/8% dollar-denominated bonds due 2021

By Marisa Wong

Los Angeles, April 3 – Fufeng Group Ltd. announced it repurchased a total of $17 million, or roughly 4.9%, of its $350 million original principal amount of 5 7/8% bonds due 2021 from March 25 to April 3.

Fufeng said it previously repurchased $36,865,000, or 10.5%, of the bonds in transactions from Nov. 6, 2018 to March 24, 2020.

The company said the buybacks will reduce its future financial expenses and lower its financial gearing level.

After the latest repurchased bonds are cancelled, $296,135,000 of the bonds will remain outstanding.

Based in Jinan, China, Fufeng manufactures bio-products, including monosodium glutamate, xanthan gum and fertilizer.

© 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.