Zhenro Properties buys back $10 million more notes and securities

Chicago, Dec. 1 – China’s Zhenro Properties Group Ltd. announced another $10 million of repurchases on the open market from four series of notes and capital securities, according to a notice.

The company has repurchased:

• $2 million, or 0.8%, of the 6½% senior notes due 2022 (ISIN: XS2383329237);

• $5 million, or 1.67%, of the 8.7% senior notes due 2022 (ISIN: XS2050860308);

• $2 million, or 0.91%, of the $220 million 5.98% senior notes due 2022 (ISIN: XS2329241447); and

• $1 million, or 0.5%, of the $200 million senior perpetual capital securities (ISIN: XS2013512608).

The securities may or may not be canceled.

Cumulatively, the issuer has repurchased $11.5 million of the 6½% notes, $15 million of the 8.7% notes, $10.05 million of the 5.98% notes and $4 million of the capital securities.

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.