China’s Jiangsu Zhongnan Construction repurchases $216.9 million of 10 7/8% notes due 2022

By Rebecca Melvin

Concord, N.H., June 18 – Haimen Zhongnan Investment Development (International) Co. Ltd. redeemed and canceled $216.9 million of 10 7/8% notes due 2022 (ISIN: XS12008677341), guaranteed by Jiangsu Zhongnan Construction Group Co. Ltd., according to an announcement.

The partial redemption represented 43.28% of the initial aggregate principal amount of the 2022 notes.

The repurchase was made in connection with the company’s April 8 announcement regarding the completion of an exchange offer and cancellation of the $500 million of notes.

The real estate development business is based in Shanghai.

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