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China’s Xinyuan Real Estate buys back $11.8 million senior notes
By Marisa Wong
Los Angeles, Oct. 15 – Xinyuan Real Estate Co., Ltd. repurchased $11.8 million of its outstanding senior notes from three series, according to a company notice.
The issuer repurchased the following:
• $500,000 of its original $300 million 8 7/8% senior notes due 2020, leaving $299.3 million outstanding. The company repurchased $200,000 of these notes in February 2019;
• $8.8 million of its original $300 million 7¾% senior notes due 2021, leaving $265.8 million outstanding. The company repurchased $25.4 million of these notes in February 2019; and
• $2.5 million of its outstanding $300 million 14.2% senior notes due 2021, leaving $297.5 million outstanding.
The company said it made the on-market buybacks up to Sept. 23.
Xinyuan is a Beijing-based real estate developer and property manager, with properties primarily in China.
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