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Far East Consortium plans buyback of last $236.63 million 3¾% notes
By Rebecca Melvin
Concord, N.H., July 13 – Hong Kong’s Far East Consortium International Ltd. plans to repurchase its existing $236.63 million of 3¾% notes due 2021 (ISIN: XS1485805532) in on-market transactions, according to a company release.
The amount outstanding represents 78.88% of the issue, which was originally $300 million when it priced on Sept. 8, 2016.
Concurrently the company priced a $150 million add-on to its 5.1% notes due 2024.
The existing 3¾% notes repurchased are expected to be canceled as soon as practicable.
Far East Consortium is a Hong Kong-based business conglomerate with interests in property development, hospitality and car park operations.
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