Times China to redeem $400 million of 7 5/8% notes due 2022

By Rebecca Melvin

Concord, N.H., May 28 – Times China Holdings Ltd. plans to redeem $400 million of its $500 million outstanding 7 5/8% senior notes due 2022, according to a company announcement.

The notes will be redeemed at 101 plus interest on June 27.

Upon completion of the partial redemption, the outstanding principal amount of the 2022 notes will be $100 million.

The company plans to fund the redemption with internal funds.

Citicorp International Ltd. is the trustee.

Times China is a property development holding company based in Guangzhou, China.

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