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Zhenro Properties buys back $5 million more notes and securities
By Mary-Katherine Stinson
Lexington, Ky., Nov. 22 – China’s Zhenro Properties Group Ltd. announced it has repurchased $4 million of its 6½% senior notes due 2022 (ISIN: XS2383329237) and $1 million of its senior perpetual capital securities (ISIN: XS2013512608), according to a company release.
This buyback represents 1.6% of the 2022 Notes and 0.5% of the securities.
At this point, $9.5 million, or 3.8%, of the original $250 million 2022 notes have been repurchased and $3 million, or 1.5%, of the original $200 million securities have been repurchased.
It is up to the board’s discretion whether the repurchased notes and securities will be canceled.
The Shanghai-based real estate developer and property manager added that it may further repurchase its senior notes, depending on market conditions and its financial structure.
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