China Huarong to redeem $1.5 billion 4½% perpetuals on Jan. 24

By Mary-Katherine Stinson

Lexington, Ky., Dec. 30 – China Huarong International Holdings Ltd. announced that its $1.5 billion 4½% unsubordinated guaranteed perpetual securities will be redeemed on Jan. 24.

The securities are being redeemed at par plus interest accrued to the date fixed for redemption, according to a company release on Friday.

Huarong Finance 2017 Co., Ltd. is the issuer of the securities, which are guaranteed by the holding company, a wholly owned subsidiary of China Huarong Asset Management Co., Ltd., with a keepwell deed and deed of equity interest purchase, investment and liquidity support provided by China Huarong Asset Management Co., Ltd.

The state-owned asset manager is based in Beijing.

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