Guorui Properties to partially redeem 13½% senior notes due 2022

By Taylor Fox

New York, March 1 – Guorui Properties Ltd. plans to redeem in cash part of its 13½% senior notes due 2022, according to a company announcement.

The notes will be redeemed at a price of $159,591,000, which is equal to the principal amount of $149.5 million plus interest.

Upon completion of the redemption, $4.9 million of the notes will remain outstanding.

The homebuilder is incorporated in the Cayman Islands under the name Glory Land Co. Ltd. and is based in Beijing.

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