China Huarong tallies buybacks from three series of notes

By Mary-Katherine Stinson

Lexington, Ky., Oct. 26 – China Huarong International Holdings Ltd. provided an update regarding additional open-market purchases from three series of notes, according to a notice on Wednesday.

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

• $182,475,000, or 36.5%, of the $500 million 3 7/8% guaranteed notes due November 2029;

• $211 million, or 60.29%, of the $350 million 3 5/8% guaranteed notes due September 2030; and

• $121.5 million, or 60.75%, of the $200 million 5½% guaranteed notes due April 2047.

After cancellation, the following will be outstanding:

• $317,525,000 of the November 2029 notes;

• $139 million of the September 2030 notes; and

• $78.5 million of the April 2047 notes.

As of Oct. 26, the $600 million 2 1/8% guaranteed notes due 2023 have been fully redeemed.

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

The state-owned asset manager is based in Beijing.

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