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Country Garden redeems US$750M of notes

Country Garden Holdings Co. Ltd. redeemed in full the outstanding amount of its US$750.0 million of 7.50% notes due 2023.

A total of roughly US$784.4 million, including accrued and unpaid interest, was paid by the company Feb. 20 to redeem the notes at 103.75% of the principal amount. Proceeds from its previous issuance of 4.750% senior notes due 2023 and 5.125% senior notes due 2025 were used to finance the redemption.

Following the completed redemption, the notes will be cancelled and delisted from the Singapore Exchange Securities Trading Ltd.