GCL New Energy buys back $25.65 million 10% senior notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., May 16 – GCL New Energy Holdings Ltd. detailed continuing repurchases of its outstanding 10% senior notes due 2024 (ISIN: XS2350477308), according to a company announcement.

Since April 26 the company has made open market purchases totaling $25,649,102, being $31,991,315 outstanding principal amount at the notes’ face value with a pool factor applied because of the redemption on Jan. 25, 2022.

As of May 16, the repurchased notes represent approximately 5.01% of the initial principal amount. Repurchased notes have been canceled.

After the upcoming redemption, $$173,257,576 will remain outstanding, with $216,098,702 total principal amount of the notes at face value outstanding.

The company is focused on solar power generation and development and located in Hong Kong.

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