Redsun Properties repurchases another $2 million 13% notes due 2021

By William Gullotti

Buffalo, N.Y., Oct. 13 – Redsun Properties Group Ltd. bought back another $2 million of its 13% senior notes due 2021 on the open market on Oct. 13, according to a notice .

The repurchase of the notes represents 2% of the $100 million principal amount of notes originally issued in October 2019.

All the repurchased notes will be canceled.

After the cancellation there will be $85 million of the notes outstanding.

The Nanjing, China-based real estate developer is a subsidiary of Hong Yang Group Co. Ltd.

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