Zhongliang buys back $21.15 million more notes from three series

By Rebecca Melvin

Concord, N.H., Oct. 27 – Zhongliang Holdings Group Co. Ltd. made partial repurchases of notes from three series of notes for total repurchases of $21.1 million between Oct. 25 to Oct. 27, according to a regulatory notice.

Specifically, the company purchased $12.1 million more of its 8 7/8% notes due November 2021, representing about 6.05% of the issue; $2 million of its 7½% senior notes due January 2022, representing about 0.8% of the issue; and $7 million of its 9½% notes due July 2022, representing about 1.56% of the issue.

In all, the group has repurchased $57.1 million of the November 2021 notes, or about 28.55% of the total $200 million originally issued.

It also has purchased $12 million of its January 2022 notes, representing about 4.8% of the $250 million original principal amount; as well as $7 million of its 8½% notes due May 2022, representing about 2.33% of the $300 million originally issued; and, $15.5 million of the July 2022 notes, representing about 2.44% of the $450 million 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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