China Evergrande Group said it paid approximately US$717.7 million for the redemption of three series of its senior notes carrying an aggregate amount of roughly US$658.8 million.
All the senior notes have been redeemed, as planned, Aug. 5 after the company forked out about US$455.3 million for US$426.8 million of outstanding 8.75% senior notes due 2018, roughly US$111.8 million for US$103.0 million of outstanding 8.0% senior notes due 2019 and approximately US$150.6 million for US$129.0 million of outstanding 12.0% senior notes due 2020.
China Evergrande indicated in a filing that the amount paid for the redemption of each senior notes series also covered applicable premiums, as well as accrued and unpaid interest. The company earlier said it will fund the redemption using proceeds from its issuance of US$500 million worth of new 2021 notes, US$1.00 billion of new 2023 notes and US$2.30 billion of new 2025 notes.
The group said it already applied for the 2018 notes to be canceled and delisted from The Stock Exchange of Hong Kong Ltd., effective Aug. 15. The two other series of senior notes, meanwhile, have already been withdrawn and delisted from Singapore Exchange Securities Trading Ltd. after the redemption.