China’s Shinsun repurchases $8.45 million 12½% notes due 2022

By William Gullotti

Buffalo, N.Y., Nov. 4 – Shinsun Holdings (Group) Co. Ltd. repurchased $8.45 million of 12½% senior notes due 2022, according to an announcement on Thursday.

The notes were issued by Xiang Sheng Holding Ltd., an indirect but wholly owned subsidiary, for an aggregate principal amount of $300 million.

The Nov. 4 buyback was calculated as approximately 2.82% of the initial issue.

Shinsun reported that the repurchased notes may or may not be canceled and further repurchases may occur in the future.

The real estate development company is based in Hong Kong.

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