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Published on 5/18/2022 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Xinhu Zhongbao buys back, cancels $33.3 million of 11% notes due 2022

By Marisa Wong

Los Angeles, May 18 – Xinhu Zhongbao Co., Ltd. repurchased and canceled portions of the 11% guaranteed senior notes due 2022 (ISIN: XS2005151027) issued by subsidiary Xinhu (BVI) 2018 Holding Co. Ltd. and guaranteed by the parent company, according to a notice.

The company repurchased $20 million of the notes in November 2021 and $13.3 million of the notes in May. The notes were canceled on May 13 and May 17, respectively.

As of May 18, the outstanding principal amount is $62.1 million.

The real estate, finance and investment company is based in Hangzhou, China.


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