China’s Oceanwide holders put $69.8 million of 12% notes due 2021

By Sarah Lizee

Olympia, Wash., May 5 – Oceanwide Holdings Co., Ltd. said $69.8 million of its 12% guaranteed senior notes due 2021 issued by Oceanwide Holdings International Development III Co., Ltd. have been repurchased at the option of holders on May 4, according to a notice.

The notes were repurchased at 104.05 plus accrued interest to April 30.

The repurchased notes represent 24.9% of the outstanding principal amount of the notes. After cancellation of the repurchased notes, $210.2 million of the notes remain outstanding.

The conglomerate is based in Beijing.

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