China Agri-Products tallies buybacks of 1% notes due 2024, 10% remains

By Mary-Katherine Stinson

Lexington, Ky., Jan. 19 – China Agri-Products Exchange Ltd. repurchased another HK$20 million of its 1% notes due 2024 (ISIN: XS1073451913) in open-market purchases on Jan. 4 and Jan. 19, according to a company announcement.

These repurchases represent 5% of the original HK$400 million, which was issued in several tranches in 2014 under the issuer’s HK$1 billion medium-term note program. Altogether, 90% of the notes have now been repurchased.

The repurchased notes will be canceled as soon as practicable.

The repurchases were funded by the internal resources of the company.

After cancellation, HK$40 million will remain outstanding, representing approximately 10% of the initial principal amount.

The agricultural trading company is based in Hong Kong.

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