GCL New Energy to redeem remaining 10% senior notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., Oct. 16 – GCL New Energy Holdings Ltd. will redeem all its outstanding 10% senior notes due 2024 (ISIN: XS2350477308) at par on Oct. 31, according to a company announcement.

Accrued interest will also be paid. The amount of accrued interest will be approximately $0.025 on each $1 of principal amount of the notes.

The redemption price for all outstanding notes will be the aggregate amount of $69,441,241, or approximately $1.025 for each $1 of principal amount of the notes.

The outstanding principal amount of the notes is $67,747,552, being $84,499,382 outstanding principal amount at face value of the notes applying the pool factor because of the redemptions since Jan. 25, 2022.

Upon completion of the redemption, no notes will remain outstanding.

The company is focused on solar power generation and development and located in Hong Kong.

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