VCredit repurchases HK$100 million 9½% notes due 2025

By William Gullotti

Buffalo, N.Y., June 8 – VCredit Holdings Ltd. agreed to buy back HK$100 million of its 9½% notes due 2025 via a private arrangement with independent third parties, according to an announcement on Thursday.

VCredit will pay a total consideration of HK$100 million, plus accrued interest.

The buyback will take place June 16, and the repurchased notes will be subsequently canceled.

Following cancellation, there will be HK$100 million of the notes outstanding, representing 50% of the original HK$200 million issued June 16, 2022.

The company indicated it may make further repurchases and will update the market accordingly.

Based in Hong Kong, the company offers microloans, financing guarantees, financial leasing and other services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.