Zhenro Properties buys back $5 million more notes and securities

By Mary-Katherine Stinson

Lexington, Ky., Nov. 22 – China’s Zhenro Properties Group Ltd. announced it has repurchased $4 million of its 6½% senior notes due 2022 (ISIN: XS2383329237) and $1 million of its senior perpetual capital securities (ISIN: XS2013512608), according to a company release.

This buyback represents 1.6% of the 2022 Notes and 0.5% of the securities.

At this point, $9.5 million, or 3.8%, of the original $250 million 2022 notes have been repurchased and $3 million, or 1.5%, of the original $200 million securities have been repurchased.

It is up to the board’s discretion whether the repurchased notes and securities will be canceled.

The Shanghai-based real estate developer and property manager added that it may further repurchase its senior notes, depending on market conditions and its financial structure.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.