Modern Land (China) buys back $1.5 million more green notes due 2022

By Wendy Van Sickle

Columbus, Ohio, Sept. 15 – Modern Land (China) Co. Ltd. announced it made on-market repurchases of its 11½% green senior notes due 2022.

Modern Land bought back $400,000, or about 0.13%, of the initial $300 million principal amount on Sept. 13 and $1.1 million, or about 0.37%, of the initial principal amount on Sept. 14.

Following cancellation of the repurchased notes, $298 million of the notes will remain outstanding.

The company said the repurchases were conducted based on market conditions and will improve its debt structure. The company may buy back more of its senior notes.

The property developer focused on green residential development is based in Beijing.

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