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China Agri-Products’ buybacks of 1% notes due 2024 total 65%
By Mary-Katherine Stinson
Lexington, Ky., April 12 – China Agri-Products Exchange Ltd. repurchased HK$20 million more of its 1% notes due 2024 in open-market purchases on March 14 and April 12, according to a release.
These repurchases represent 5% of the original HK$400 million issue. Altogether, 65% of the notes have been repurchased and canceled.
The notes repurchased on March 14 were canceled on March 29.
The April 12 repurchased notes will be canceled as soon as practicable.
After cancellation, HK$140 million of the notes, or about 35%, will remain outstanding.
The repurchases were funded by internal resources of the company.
The agricultural trading company is based in Hong Kong.
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