Sun Hung Kai repurchases $45.15 million 5% notes due 2026

By William Gullotti

Buffalo, N.Y., May 18 – Sun Hung Kai & Co. (BVI) Ltd., a subsidiary of Sun Hung Kai & Co. Ltd., bought back $45.15 million of its 5% notes due Sept. 7, 2026 (ISIN: XS2377388702), according to a notice on Thursday.

The notes were issued in two parts on Sept. 7, 2021 and March 2, 2022 for a total of $450 million under the company’s $3 billion guaranteed medium-term note program.

The repurchased notes were bought on the open market, representing 10.03% of the total issue, and subsequently canceled.

Following the cancellation, $404.85 million, representing 89.97% of the principal amount, remains outstanding.

Sun Hung Kai is a Hong Kong-based financial and securities holding company.

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