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China SCE Group buys back $22 million more 5 7/8% notes due 2022
By Rebecca Melvin
Concord, N.H., Feb. 25 – China SCE Group Holdings Ltd. repurchased an additional $22 million of its 5 7/8% senior notes due March 10, 2022, according to a company announcement.
The notes were purchased in the open market between Feb. 24 and Feb. 25.
The amount repurchased represents 4.4% of the $500 million principal amount originally issued.
After cancellation of the repurchased notes, $347 million, or 69.4%, of the notes will remain outstanding.
The company said it may make further buybacks of its senior notes as it monitors market conditions and its financing structure.
China SCE is a Xiamen, China-based property developer.
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