Tongchuangjiuding’s Jiu An buys back $70 million of 9½% bonds

By Mary-Katherine Stinson

Lexington, Ky., March 28 – Jiu An Finance Co., Ltd repurchased $70 million of its originally issued $300 million 9½% guaranteed bonds due 2023 guaranteed by Tongchuangjiuding Investment Management Group Co., Ltd. via purchases on the open market as of March 28, according to an announcement.

The repurchase represents 23.33% of the principal.

As of March 28, $230 million, or 76.67%, is outstanding.

The repurchased bonds have been canceled.

The company stated it may or may not repurchase bonds in the future.

The investment management company is based in Beijing.

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