Zensun repurchases $59.7 million portion of 12½% notes in 2022

By Wendy Van Sickle

Columbus, Ohio, June 29 – China’s Zensun Enterprises Ltd. has repurchased $59.7 million of its 12½% senior notes due 2022 since the beginning of the year, according to a notice.

Between March 21 and June 22, Zensun repurchased $43.8 million, or 21.9% of the $200 million original principal amount of the notes. Between Jan. 14 and Jan. 21, the company repurchased $15.9 million, or 7.95%, of the notes. The repurchases were made in the open market.

After the cancellation of the repurchased notes, $140.3 million, or 70.15%, of the notes remain outstanding.

Zensun is the largest residential property developer in Zhengzhou.

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