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Country Garden unit completes bond issuance, buyback

Country Garden Holdings Co. Ltd.'s Smart Insight International Ltd. subsidiary closed Dec. 5 the issuance of HK$7.83 billion worth of 4.50% secured guaranteed convertible bonds due Dec. 5, 2023.

Pursuant to the completed issue of the new bonds, Smart Insight also completed the partial repurchase of the outstanding amount of its existing HK$15.60 billion convertible bonds due 2019.

Smart Insight was able to repurchase HK$6.05 billion out of the HK$7.83 billion maximum amount of the convertible bonds that it planned to be bought back.

Following the buyback, the aggregate principal amount of 2019 bonds that remain outstanding stands at nearly HK$9.55 billion.