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Shimao Property to redeem US$550M of 8.375% senior notes due 2022

Shimao Property Holdings Ltd. plans to redeem an aggregate principal amount of US$550.0 million of 8.375% senior notes due 2022.

The redemption is planned for Feb. 11 at a price equal to 104.188% of the principal amount of the notes, plus accrued and unpaid interest.

As at Jan. 10, the notes have an outstanding principal amount of US$1.10 billion.

The notes were issued in February and March of 2015.