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Shui On Land plans full redemption of US$550M senior notes due 2019

Shui On Land Ltd. intends to fully redeem by Jan. 22, 2018, all its outstanding 9.625% senior notes, which were issued at an aggregate principal amount of US$550.0 million.

The company said it will redeem on the said date US$250.0 million of the notes that will be left outstanding following the Dec. 28 expected completion of a US$300.0 million partial redemption.

For the redemption, the company will pay an amount equal to 104.813% of the 2019 notes' principal amount, plus accrued and unpaid interest.

Upon the completion of the proposed redemption, all the 2019 notes will be canceled and delisted from the Singapore Exchange Securities Trading Ltd.