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China’s Logan Group receives tenders for $164.24 million of notes
Chicago, Nov. 17 – Logan Group Co. Ltd. announced that it received tenders for $164,236,000 of notes in its offer to buy any of the $244,075,000 outstanding 5¾% senior notes due 2022 (ISINs: XS1541978851), according to a notice on Wednesday.
Noteholders who tendered their notes received par plus interest.
The offer expired at 11 a.m. ET on Nov. 10.
The notes were issued by the company on Jan. 3, 2017 and Jan. 9, 2019.
After the cancellation of the tendered notes, there are now $61,789,000 of the notes remaining.
The company had previously repurchased $18.05 million of the notes.
The repurchases were funded with internal resources, and settlement was Nov. 12.
The company appointed Deutsche Bank (+852 2203 8532, +44 20 7545 8011), Guotai Junan International (facsimile: +852 2509 0030) and Haitong International (facsimile: +852 2973 6741) as dealer managers of the offer to purchase and D.F. King Ltd. (+44 20 7920 9700, +852 3953 7208; logan@dfkingltd.com; https://sites.dfkingltd.com/logan) as the information and tender agent.
The property developer and construction company is based in Shenzhen, China.
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