Greentown China redeems $500 million perpetual capital securities

Chicago, Dec. 30 – Greentown China Holdings Ltd. announced that $500 million of its senior perpetual capital securities were redeemed in full on Dec. 28.

Twinkle Lights Holdings Ltd., a wholly owned subsidiary of the company, conducted the redemption.

The securities were callable in 2021 and issued in 2018.

Funding for the unlisted securities came from a new issue of 5.95% senior notes due 2024 in the amount of $150 million and proceeds from a drawdown under certain facility agreements.

Greentown China is a Hangzhou, China-based property developer.

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