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China's Bohai Capital to repurchase up to 500M yuan of bonds

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China's Bohai Capital to repurchase up to 500M yuan of bonds

Bohai Capital Holding Co. Ltd. plans to repurchase up to 500 million yuan of bonds that it issued in 2015.

Bondholders can register for their notes to be repurchased between Aug. 13 and Aug. 15, with the payment date set for Sept. 25.

The five-year bonds were priced with a coupon of 4.50% for the first three years, with an option for the issuer to repurchase after the end of the third year. The company said Aug. 13 that it plans to raise the rate to 5.50% for the next two years.

As of Aug. 13, US$1 was equivalent to 6.89 Chinese yuan.