Changchun Urban Development repurchases $21 million more 5.7% notes

By William Gullotti

Buffalo, N.Y., Oct. 19 – Chang Development International Ltd. announced a partial repurchase of its 5.7% bonds due 2021guaranteed by Changchun Urban Development & Investment Holdings (Group) Co. Ltd., according to a release on Tuesday.

A subsidiary of the guarantor bought $21 million of the bonds, or about 5.25% of the initial principal amount, in the open market on Oct. 13. The bonds were canceled Oct. 18.

$300.8 million of the bonds, or approximately 75.2% of the initial issue, remain outstanding.

The China based company offers infrastructure construction services.

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