Changchun Urban Development buys back $45.2 million 5.7% notes due 2021

By Rebecca Melvin

Concord, N.H., Sept. 24 – Chang Development International Ltd. announced a partial repurchase of its 5.7% bonds due 2021guaranteed by Changchun Urban Development & Investment Holdings (Group) Co. Ltd., according to a release.

A subsidiary of the guarantor bought $45.2 million of the bonds, or about 11.3% of the initial principal amount, in the open market on Sept. 21. The notes were subsequently canceled.

There is $354.8 million of the notes remaining outstanding.

The China based company offers infrastructure construction services.

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