China’s Tongchuangjiuding unit repurchases $22.4 million 6½% bonds

By Sarah Lizee

Olympia, Wash., March 20 – Tongchuangjiuding Investment Management Group Co., Ltd. subsidiary Jiuding Group Finance Co., Ltd. repurchased $22.4 million, or 5.89%, of its $380 million of 6½% guaranteed bonds due 2020, according to a notice.

The repurchase was made in the open market during the period from Feb. 4 to March 20.

Following the repurchase, $272.59 million, or 71.73%, of the bonds remain outstanding.

The notes are guaranteed by Tongchuangjiuding Investment.

The investment management company is based in Beijing.

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