Hysan Development buys back $54.84 million of Elect Global perpetuals

By Marisa Wong

Los Angeles, Sept. 15 – Hysan Development Co. Ltd. announced it has repurchased in the open market $54,843,000, or 10.97%, of the $500 million senior guaranteed perpetual capital securities issued by Elect Global Investments Ltd. and guaranteed by Hysan.

After cancellation of the repurchased securities, $445,157,000, or 89.03%, of the initial principal amount will remain outstanding.

The company said it may make further buybacks of its securities in the open market when appropriate.

The property developer is based in Hong Kong.

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