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Guangzhou R&F unit to redeem senior notes worth $1B

Guangzhou R&F Properties Co. Ltd.'s unit plans to redeem all outstanding bonds under its issuance of 8.50% senior notes due 2019.

Trillion Chance Ltd. will fully redeem the notes Jan. 10, 2017, at a price equal to 104.25% of the principal amount, plus accrued and unpaid interest if any, up to but excluding the redemption date. Correspondingly, the notes will be canceled on the redemption date.

As of Dec. 9, the bonds' outstanding principal amounted to US$1.00 billion. Trillion Chance will use net proceeds from its internal funds to pay for the redemption.