China's KWG Property to redeem all 12¾% notes due 2016 at 106.375

By Marisa Wong

Madison, Wis., March 3 - KWG Property Holding Ltd. plans to redeem in full its 12¾% senior notes due 2016 on March 30, according to a company announcement.

The notes will be redeemed at a price of 106.375 plus accrued interest to the redemption date.

As of Feb. 28, the outstanding principal amount of the notes was $350 million.

The company said it will use the proceeds from its recent offering of 8.975% senior notes due 2019 to fund the redemption.

The property developer is based in Guangzhou, China.

© 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.