China Huarong repurchases more notes from four series

By William Gullotti

Buffalo, N.Y., Oct. 19 – China Huarong International Holdings Ltd. provided an update regarding additional open-market purchases from four series of notes, according to a notice on Thursday.

The company reported that it has now, in aggregate, repurchased the following principal amounts of notes from the related four series:

• $429.5 million, or 61.36%, of the $700 million 3 3/8% guaranteed notes due February 2030;

• $201 million, or 57.43%, of the $350 million 3 5/8% guaranteed notes due September 2030;

• $64.5 million, or 32.25%, of the $200 million 5½% guaranteed notes due April 2047; and

• $230 million, or 32.86%, of the 4.95% guaranteed notes due November 2047.

After cancellation, the following will be outstanding:

• $270.5 million of the February 2030 notes;

• $149 million of the September 2030 notes;

• $135.5 million of the April 2047 notes; and

• $470 million of the November 2047 notes.

Additionally, the company reported that its $600 million issue of 2 1/8% guaranteed notes due 2023 has been fully redeemed.

According to earlier announcements, China Huarong Asset Management Co., Ltd. is the parent issuer. International Holding is the guarantor for the parent company.

The state-owned asset manager is based in Beijing.

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