Health and Happiness tallies repurchases of 5 5/8% notes

By Mary-Katherine Stinson

Lexington, Ky., Feb. 29 – Health and Happiness (H&H) International Holdings Ltd. continues to work down the outstanding amount of its 5 5/8% senior notes due 2024 through open market purchases, according to a notice.

In the period from Nov. 1 to Feb. 28, the company repurchased an additional $21,199,000 of the notes, representing about 7.07% of the initial issue.

The repurchased notes were canceled.

To date, $53,352,000 in principal of the notes remain outstanding, representing roughly 17.78% of the initial issue.

The buybacks, funded by internal resources, took place to reduce the company’s financing costs and to optimize its capital structure.

The series was issued on Oct. 24, 2019, totaling $300 million.

The health supplements and child health company is based in Hong Kong.

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