China’s Redco repurchases $68.35 million notes from three series

By William Gullotti

Buffalo, N.Y., Nov. 15 – Redco Properties Group Ltd. reported it made on-market repurchases totaling $68,348,000 across three series of notes, according to a notice on Monday.

The buybacks were:

• $38.5 million, or 13.51% of the initial issue, of 8% senior notes due 2022 (ISIN: XS2331603774);

• $15,611,000, or 4.87% of the initial issue, of 11% senior notes due 2022 (ISIN: XS2204388644); and

$14,237,000, or 5.35% of the initial issue, of 9.9% senior notes due 2024 (ISIN: XS2231089546).

The company said the repurchased notes may or may not be canceled, based on board approval.

Redco is a residential and commercial property developer based in Shenzhen, China.

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