Zhongliang buys back $4.5 million more notes from two series

By William Gullotti

Buffalo, N.Y., Oct. 8 – Zhongliang Holdings Group Co. Ltd. made partial repurchases of its 8 7/8% senior notes due November 2021 and its 9½ % senior notes due July 2022, according to a company announcement on Friday.

The company repurchased $2.5 million of the 2021 notes and $2 million of the 2022 notes in the open market on Oct. 8.

The repurchase represents about 1.25% of the aggregate principal amount of the $200 million 2021 notes originally issued and about 0.44% of the aggregate principal amount of the $450 million 2022 notes originally issued.

The company may or may not cancel the repurchased notes and may repurchase more.

Zhongliang is a residential property management company based in Shanghai.

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