China’s Dangdai repurchases $18.8 million of 7¼% notes due 2020

By Sarah Lizee

Olympia, Wash., Nov. 6 – Wuhan Dangdai Science & Technology Industries (Group) Co. Ltd. subsidiary Dangdai International Investments Ltd. completed the repurchase of $18.8 million of its 7¼% guaranteed senior notes due 2020, according to a notice.

Out of that amount, $10.6 million of the notes have been canceled by the issuer.

Following the repurchases, $289.4 million of the notes remain outstanding.

The company said that it may conduct further repurchases of the notes from the open market, subject to market conditions.

The notes are guaranteed by Wuhan Dangdai.

Based in Wuhan, China, Dangdai is a conglomerate with a substantial medical and pharmaceutical portfolio.

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