China’s Fuqing repurchases $22.2 million bonds due 2022

By Mary-Katherine Stinson

Lexington, Ky., Dec. 30 – Fuqing Investment Management Ltd. repurchased and canceled $22.2 million of its 4% guaranteed bonds due 2022 (ISIN: XS20004329244) on the open market during the period from Oct. 15 to Dec. 30, according to a company announcement.

The bonds are guaranteed by Ping An Real Estate Capital Ltd. with the benefit of a keepwell deed by Ping An Insurance (Group) Co. of China, Ltd. and a keepwell deed and liquidity support undertaking from Ping An Real Estate Co. Ltd.

The repurchase represents 5.55% of the original $400 million issue.

Following the repurchase and cancellation of the bonds, $377.8 million will be outstanding.

The investment services company is based in China.

© 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.