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Guangzhou R&F unit completes redemption of US$600M of senior notes

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Guangzhou R&F unit completes redemption of US$600M of senior notes

A Guangzhou R&F Properties Co. Ltd. unit redeemed all of the outstanding bonds under an issuance worth US$600.0 million in 8.75% senior notes due 2020.

Caifu Holdings Ltd. redeemed the bonds at a price equal to 104.375% of the principal amount, amounting to roughly US$626.3 million, on top of accrued and unpaid interest worth approximately US$26.3 million. The issuer paid a total of around US$652.5 million for the redemption.

The company said that the notes will be cancelled and delisted from the official list of Singapore Exchange Securities Trading Ltd. upon the completed redemption.