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China Huarong conducts further buybacks from three series
By William Gullotti
Buffalo, N.Y., Oct. 11 – China Huarong International Holdings Ltd. provided an update regarding additional open-market purchases from three series of notes, according to a notice on Wednesday.
The company reported that it has now, in aggregate, repurchased the following principal amounts of notes from the related three series:
• $350,708,000, or 50.1%, of the $700 million 3 3/8% guaranteed notes due February 2030;
• $140.5 million, or 40.14%, of the $350 million 3 5/8% guaranteed notes due September 2030; and
• $54.5 million, or 27.25%, of the $200 million 5½% guaranteed notes due April 2047.
After cancellation, the following will be outstanding:
• $349,292,000 of the February 2030 notes;
• $209.5 million of the September 2030 notes; and
• $145.5 million of the April 2047 notes.
According to earlier announcements, China Huarong Asset Management Co., Ltd. is the parent issuer. International Holding is the guarantor for the parent company.
The state-owned asset manager is based in Beijing.
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