Overseas Chinese Town calls $300 million of guaranteed perpetuals

By Mary-Katherine Stinson

Lexington, Ky., July 24 – Overseas Chinese Town (Asia) Holdings Ltd. will redeem all $300 million outstanding of its senior guaranteed perpetual capital securities, according to a notice.

The securities are guaranteed by Overseas Chinese Town Enterprises Ltd. Co.

The notes will be redeemed at par on the call date of Aug. 25, together with any accrued distribution, including any arrears of distribution and any additional distribution amount.

After redemption, there will be no outstanding notes and they will be delisted from the Stock Exchange of Hong Kong.

The Hong Kong-based issuer’s main business is paperboard and carton manufacturing and other packaging design. The guarantor is a Shenzhen, China-based enterprise with tourism, real estate, hotel development and electronics manufacturing as its primary businesses.

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