China’s Chang Development buys back $33 million 5.7% bonds due 2021

By Mary-Katherine Stinson

Lexington, Ky., Oct. 7 – Chang Development International Ltd. bought back $33 million of its 5.7% guaranteed bonds due 2021 on the open market on Oct. 4, according to a notice.

The repurchase of the Regulation S bonds represents 8¼% of the aggregate principal of the $400 million bonds originally issued.

Parent company Changchun Urban Development & Investment Holdings (Group) Co., Ltd. is the guarantor.

All repurchased bonds were canceled Oct. 6.

As of Thursday’s notice, $321.8 million of the 2021 bonds remain outstanding.

Changchun Urban offers infrastructure construction services.

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