New World China buys back RMB 250 million 0% convertibles due 2012

By Devika Patel

Knoxville, Tenn., Oct. 15 - New World China Land Finance Ltd. said it bought back RMB 250 million of its zero-coupon guaranteed convertible bonds due 2012.

The company paid a price of 68, or RMB 170 million total, for the convertibles in an off-market transaction on Oct. 14.

Based in Hong Kong, New World China is an investment holding company principally engaged in investment and development of property projects in the People's Republic of China.

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