China’s Shimao redeems final $550 million 8 3/8% notes due 2022

By Marisa Wong

Morgantown, W.Va., March 18 – Shimao Property Holdings Ltd. said it redeemed the remaining $550 million of its 8 3/8% senior notes due 2022 on March 18.

The redemption price was 104.188 plus accrued interest up to but excluding the redemption date, for a total redemption price of $577,896,152.78.

As previously reported, Shimao redeemed $550 million of the $1.1 billion original principal amount on Feb. 11.

The real estate development company is based in Hong Kong.

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