China-based Gemdale's 9.15%, 7 1/8%, 5 5/8% bonds putable till Feb. 21

By Marisa Wong

Madison, Wis., Jan. 22 - Gemdale International Holding Ltd.'s RMB 1.2 billion 9.15% bonds due 2015, Gemdale International Investment Ltd.'s $350 million 7 1/8% bonds due 2017 and Gemdale (Asia) Holding Ltd.'s RMB 2 billion 5 5/8% bonds due 2018 are now putable, according to notices delivered to bondholders.

Put bonds will be redeemed at 101 plus accrued interest to the put settlement date.

Holders may exercise their put option until Feb. 21. The settlement date will be March 7.

According to the notices, Gemdale's substantial shareholder has ceased to be the largest shareholder. This constitutes a relevant event under the terms and conditions of all three issues, triggering the redemption.

Gemdale is a Shenzhen, China-based real estate developer.

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