China’s Radiance Capital repurchases more of its 10½% notes due 2022

By Mary-Katherine Stinson

Lexington, Ky., Jan. 10 – Radiance Capital Investments Ltd., an indirect non-wholly owned subsidiary of Radiance Holdings (Group) Co. Ltd., repurchased $117,488,000 principal amount of its 10½% senior notes due 2022, representing about 39.16% of the issue, according to a regulatory notice.

The purchases were made in the open market between Oct. 22 and Jan. 7.

With these purchases, the issuer has purchased a total of $142,588,000 of notes in the open market, representing 47.53% of the issue, which was initially $300 million in size.

The repurchased notes may or may not be canceled. The issuer will continue to monitor market conditions and its financial structure and may further repurchase its senior notes as appropriate.

As of Jan. 10, $157,412,000, or 52.47%, remains outstanding.

The real estate developer is based in Beijing.

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