China Agri-Products buys back HK$20 million more 1% notes due 2024

By William Gullotti

Buffalo, N.Y., July 31 – China Agri-Products Exchange Ltd. repurchased another HK$20 million of its 1% notes due 2024 (ISIN: XS1073451913) in open-market purchases on July 7 and July 31, according to a company announcement on Monday.

These repurchases represent 5% of the original HK$400 million, which were issued in several tranches in 2014 under its HK$1 billion medium-term note program. Altogether, 70% of the notes have been repurchased and canceled.

According to the announcement, the notes will be canceled as soon as practicable.

After cancellation, HK$120 million of the notes, or about 30%, 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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