Shui On Land buys back RMB 80 million of 4.5% convertible bonds

By Marisa Wong

Madison, Wis., July 18 - Shui On Land Ltd. said it recently repurchased some of its RMB 2.72 billion dollar-settled 4.5% convertible bonds due 2015 through a market transaction.

The company repurchased RMB 80 million of the bonds at a price below par.

Following the cancellation of the repurchased bonds, the principal amount remaining outstanding is RMB 2.64 billion.

Shui On Land is a Hong Kong-based property development company.

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