GCL New Energy buys back $55.32 million 10% senior notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., Aug. 14 – GCL New Energy Holdings Ltd. detailed continuing repurchases of its outstanding 10% senior notes due 2024 (ISIN: XS2350477308), according to a company announcement.

Since Aug. 4 the company has made open market purchases totaling $55,320,891, being $69 million outstanding principal amount at the notes’ face value with a pool factor applied because of the redemption on Jan. 25, 2022.

As of Aug. 14, the repurchased notes represent approximately 10.81% of the initial principal amount. Repurchased notes have been canceled.

After cancellation, $76,245,579 remains outstanding, with $95,098,702 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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