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China SCE Group buys back $206.5 million more 7¼% notes due 2023
By Mary-Katherine Stinson
Lexington, Ky., March 30 – China SCE Group Holdings Ltd. repurchased an additional $206.5 million of its 7¼% senior notes due April 19, 2023, according to a company announcement.
The notes were purchased in the open market between March 9 and March 29.
The amount repurchased represents 41.3% of the $500 million principal amount originally issued.
After cancellation of the repurchased notes, $293.5 million, or 58.7%, 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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