China’s Radiance Capital repurchases some of its 10½% notes due 2022

By Rebecca Melvin

Concord, N.H., Oct. 22 – Radiance Capital Investments Ltd., a subsidiary of Radiance Holdings (Group) Co. Ltd., repurchased $3.7 million principal amount of its 10½% senior notes due 2022, representing about 1.23% of the issue, according to a regulatory notice.

The purchases were made in the open market between Oct. 7 and Oct. 21.

Prior to these purchases, the issuer had purchased $25.1 million of notes in the open market, representing 8.37% of the issue, which was initially $300 million in size.

The repurchased notes may or may not be canceled. The issuer will continue to monitor market conditions and its financial structure and may further repurchase its senior notes as appropriate.

The real estate developer is based in Beijing.

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