China’s Xinhu Zhongbao unit repurchases $7 million of 11% notes

By Sarah Lizee

Olympia, Wash., March 18 – Xinhu Zhongbao Co., Ltd. subsidiary Xinhu (BVI) 2018 Holding Co. Ltd. repurchased $7 million, or 2.5%, of its 11% guaranteed senior notes due 2022 (ISIN: XS1957513077) from March 6 to March 13, according to a notice.

As of March 18, $17 million, or 6.2%, of the notes have been repurchased.

The repurchased notes have not been canceled as of March 18, and the outstanding principal amount of the notes is $275 million.

The company is based in Hangzhou, China.

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