China's Agile Property to redeem all 10% notes on March 30 at 105

By Marisa Wong

Madison, Wis., March 3 - Agile Property Holdings Ltd. plans to redeem in full its 10% senior notes due 2016 on March 30, according to a company announcement.

The notes will be redeemed at a price of 105 plus accrued interest to the redemption date.

As of March 2, the outstanding principal amount of the notes was $300 million.

The company said it will use proceeds from its recent RMB 2 billion issue of 6½% senior notes due 2017 to fund the redemption.

The property developer is based in Hong Kong.

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