Redsun Properties buys back $48.2 million of 9.95% notes due 2022

By Marisa Wong

Los Angeles, Jan. 25 – Redsun Properties Group Ltd. announced it has repurchased a total of $48.2 million of its 9.95% senior notes due April 2022 in the open market in January, up to Jan. 25.

The repurchased amount represents 10.71% of the aggregate principal amount originally issued. Redsun had issued an initial $300 million of the notes in April 2019 and an additional $150 million in November 2019.

All the repurchased notes will be canceled, leaving $401.8 million principal amount outstanding.

The real estate development company is based in Nanjing, China.

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