Yunnan Provincial Energy units buy back some capital securities

By Rebecca Melvin

Concord, N.H., Dec. 15 – Two subsidiaries of China’s Yunnan Provincial Energy Investment Group Co. Ltd. repurchased an additional 7.3% principal amount of the original $150 million of guaranteed perpetual capital securities, according to an announcement.

Yunnan Energy Investment (HK) Co. Ltd. repurchased another $5 million of the securities in the open market in October; and Yunnan Energy International Investment (Singapore) Pte. Ltd. repurchased $6 million of the securities in the open market in October and November.

The two entities have repurchased a total of $26.05 million of the securities in the open market, which were issued by Yunnan Energy Investment Overseas Finance Co. Ltd., representing about 17.5% of the initial principal amount.

All of the repurchased securities have been canceled.

The issuer is a Kunming, China-based supplier of steel, iron ore, coal, sand and gravel that also works in transportation, construction, technology and other sectors.

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