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Sun Hung Kai buybacks leave 83.6% of notes due 2024 outstanding
Chicago, Jan. 8 – Hong Kong’s Sun Hung Kai & Co. (BVI) Ltd. announced further open-market repurchases of its $350 million of 5¾% guaranteed notes due 2024.
The company bought another $19,872,000, or 5.68% original principal amount, of the notes.
The buybacks leave $292,603,000, or 83.6%, of the original principal amount of notes outstanding.
The issuer will continue to monitor market conditions and may repurchase more notes when appropriate. Announcements will be made at intervals when at least 5% of the initial principal amount of notes has been redeemed.
The notes are guaranteed by parent company Sun Hung Kai & Co. Ltd.
Sun Hung Kai is a Hong Kong-based financial and securities holding company.
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