China Huarong to redeem $700 million 4% perpetuals on Nov. 7

By William Gullotti

Buffalo, N.Y., Sept. 28 – China Huarong International Holdings Ltd. announced the voluntary redemption of its $700 million 4% unsubordinated guaranteed perpetual securities will take place Nov. 7.

The securities are being redeemed at par plus interest accrued to the date fixed for redemption, according to a company announcement on Wednesday.

Huarong Finance 2017 Co., Ltd. is the issuer of the securities, which are guaranteed by the holding company, a wholly owned subsidiary of China Huarong Asset Management Co., Ltd., with a keepwell deed and deed of equity interest purchase, investment and liquidity support provided by China Huarong Asset Management Co., Ltd.

The state-owned asset manager is based in Beijing.

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