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Shimao Property to redeem US$600M of notes

Shimao Property Holdings Ltd. plans to redeem all its outstanding 8.125% senior notes due 2021.

The redemption is planned for Jan. 22, 2018, and the redemption price will equal 104.063% of the principal amount of the notes plus accrued and unpaid interest.

As at Dec. 22, the notes had an outstanding principal amount of US$600.0 million.

The notes were issued in January 2014.