China’s 361 Degrees to redeem rest of 7½% notes due 2017 on Oct. 5

By Marisa Wong

Morgantown, W.Va., Sept. 6 – 361 Degrees International Ltd. said it will redeem all of its outstanding 7½% senior notes due 2017 on Oct. 5.

The notes will be redeemed at par plus accrued interest to but excluding the redemption date.

As of Sept. 5, there is RMB 306.92 million principal amount of the notes outstanding.

In June the company had launched a tender offer to repurchase its 7½% notes. There was RMB 1,430,500,000 of the original RMB 1.5 billion principal amount outstanding at the start of the offer. The company accepted for purchase all RMB 1,119,510,000 of the notes tendered.

Since the completion of the tender offer, the company has repurchased an additional RMB 4.07 million of the notes.

361 Degrees is a sportswear company based in Xiamen City, China.

© 2015 Prospect News.
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