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GCL New Energy continues buybacks of 10% senior notes due 2024
By Mary-Katherine Stinson
Lexington, Ky., May 30 – GCL New Energy Holdings Ltd. detailed continuing repurchases of its outstanding 10% senior notes due 2024 (ISIN: XS2350477308), according to a company announcement.
Since May 22 the company has made open market purchases totaling $41,691,106, being $52 million in outstanding principal amount at the notes at face value with a pool factor applied because of the redemption on Jan. 25, 2022.
The repurchased notes represent 8.15% of the initial principal amount. Repurchased notes have been canceled.
After the cancellation, $131,566,470 will remain outstanding, with $164,098,702 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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