Modern Land (China) buys back more green notes due 2022, 2023

Chicago, Sept. 10 – Modern Land (China) Co. Ltd. announced it made on-market repurchases of its 11½% green senior notes due 2022 and 9.8% green senior notes due 2023 on Thursday.

Modern Land bought back $500,000, or about 0.17% of the initial principal amount, of the 2022 notes and $500,000, or about 0.16% of the initial principal amount, of the 2023 notes.

Following cancellation of the repurchased notes, $298.5 million of the 2022 notes and $318.5 million of the 2023 notes will remain outstanding.

The company said the repurchases were conducted based on market conditions and will improve its debt structure. The company may buy back more of its senior notes.

The property developer focused on green residential development is based in Beijing.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.