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China XD unit to redeem $150 million 11¾% notes due 2019 at premium
By Susanna Moon
Chicago, July 5 – China XD Plastics Co. Ltd. said wholly owned subsidiary Favor Sea Ltd. plans to redeem its $150 million 11¾% guaranteed senior notes due 2019.
The notes will be redeemed at par plus a premium and accrued interest up to but excluding the redemption date of Aug. 29.
The call premium will be paid to holders about one to two business days before the redemption date, when the amount has been determined, according to a company notice.
The redemption will be funded using the company’s cash and bank deposits, credit facilities and other funding sources, the release noted.
The notes were issued Feb. 4, 2014.
China XD Plastics is a specialty chemical company engaged in the development, manufacture and sale of modified plastics primarily for automotive applications.
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