China ITS buys back additional 10% guaranteed bonds due 2015

By Marisa Wong

Madison, Wis., Feb. 20 - China ITS (Holdings) Co., Ltd. said it purchased an additional RMB 16 million of its 10% guaranteed bonds due 2015 on Feb. 14.

The purchased bonds were canceled on Wednesday, leaving RMB 149 million of the original RMB 210 million principal amount outstanding, according to a company announcement.

The company purchased and canceled an initial RMB 20 million of the bonds in May 2013 and another RMB 25 million on Jan. 6, as previously reported.

The company said it purchased the bonds in the interest of the company and its shareholders. The company believes the transaction will reduce its future financial expenses and lower its financial gearing level.

China ITS is a Beijing-based transportation management system.

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