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China Agri-Products tallies buybacks at over half for notes due 2024
By Mary-Katherine Stinson
Lexington, Ky., Oct. 21 – China Agri-Products Exchange Ltd. repurchased HK$30 million more of its 1% notes due 2024 in open-market purchases on Oct. 21, according to a release.
This repurchase represents 7.5% of the original HK$400 million issue. Altogether, 52.5% of the notes have been repurchased and canceled.
After cancellation HK$190 million of the notes, or 47.5%, remain outstanding.
The repurchase was funded by internal resources of the company.
The agricultural trading company is based in Hong Kong.
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