Hysan Development buys back portion of Elect Global perpetuals

By Mary-Katherine Stinson

Lexington, Ky., April 22 – Hysan Development Co. Ltd. announced it has repurchased and canceled $99,995,000, or 11.76%, of the $850 million subordinated guaranteed perpetual capital securities issued by Elect Global Investments Ltd. (ISIN: XS2123115029), according to a notice.

After cancellation of the repurchased securities, $750,005,000, or 88.24%, of the initial principal amount will remain outstanding.

The company said it may make further buybacks of its securities in the open market when appropriate.

The property developer is based in Hong Kong.

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