eHi Car buys back $46.43 million of 7¾% senior notes due 2024

By William Gullotti

Buffalo, N.Y., Oct. 11 – eHi Car Services Ltd. repurchased $46,425,000 of its $450 million 7¾% senior notes due 2024, according to an announcement on Wednesday.

The buyback represents 10.32% of the initial issue, and the company expects to cancel the repurchased notes as soon as possible.

Following cancellation, an aggregate principal amount of $403,575,000 will remain outstanding.

The notes were issued in two parts in 2021, $300 million in May with a $150 million tap in June.

eHi Car Services is a car rental and services company based in Shanghai.

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