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Kaisa Group partially redeems 2 series of notes due 2022, 2024

Kaisa Group Holdings Ltd. carried out an on-market partial redemption of two series of senior notes, with plans to cancel the repurchased notes.

The Chinese developer repurchased US$85.0 million of 8.5% senior notes due 2022, reflecting 6.77% of their total outstanding principal amount.

Additionally, US$25.0 million of 9.375% senior notes due 2024 were repurchased, equating to 0.80% of their total outstanding principal amount.

Following the cancellation of the repurchased notes, US$1.17 billion and US$3.09 billion of the 2022 notes and the 2024 notes will remain outstanding, respectively.