China South City buys back $5 million of two series of notes

By Wendy Van Sickle

Columbus, Ohio, July 8 – China South City Holdings Ltd. said it repurchased $5 million principal amount of two series of senior notes, according to a company announcement.

The repurchases included:

• $3 million principal amount, or about 0.86% of the principal amount, of notes due September 2021; and

• $2 million principal amount, or 0.57%, of 10 7/8% notes due June 2022.

After the cancellation of the repurchased notes, the outstanding principal amount of September 2021 notes and June 2022 notes will be $323.9 million and $346 million, respectively.

The repurchases were conducted based on the market condition, and they were undertaken to improve the company’s debt structure.

Hong Kong-based China South City develops and operates integrated logistics and trade centers in China.

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