Zhenro Properties to redeem 7.4% notes due 2021, 8.65% notes due 2023

By Rebecca Melvin

Concord, N.H., May 24 – China’s Zhenro Properties Group Ltd. plans to redeem its RMB 1 billion 7.4% senior notes due 2021 (ISIN: XS2215202628) and $420 million 8.65% notes due 2023 (ISIN: XS1973630889) on June 29, according to a company announcement.

The 2021 notes will be redeemed in full at par plus interest, and the 2023 notes will be redeemed in full at 103% of par plus interest.

All redeemed notes will be canceled, and the company will apply for withdrawal of the note listing.

The company is a real estate developer and property manager based in Shanghai.

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