China Huarong totals repurchases of guaranteed notes from two series

By Mary-Katherine Stinson

Lexington, Ky., Nov. 9 – China Huarong International Holdings Ltd. provided an update regarding additional open-market purchases from two series of notes, according to a notice.

As of Nov. 9, the company reported that it has, in aggregate, repurchased the following principal amounts of notes from the following series:

• $155,652,000, or approximately 22.24%, of the $700 million 4½% guaranteed notes due May 2029; and

• $300,475,000, or approximately 60.1%, of the $500 million 3 7/8% guaranteed notes due November 2029.

After cancellation, the following will be outstanding:

• $544,348,000 of the May 2029 notes; and

• $199,525,000 of the November 2029 notes.

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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