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China’s SRE to buy back $200 mln in debt at discount

Posted on 11 June 2009

From Reuters: Shanghai Real Estate is offering to buy back $200 million of its 8.625 percent bonds maturing in 2013, according to a stock exchange filing on Tuesday from the Chinese property firm.

Investors tendering their SRE bonds by an early deadline of June 18 will receive up to 80 cents to the dollar, consisting of a basic offer price of 72.5 cents, a premium of 6.2 cents as an inducement to sell the debt early and 1.3 cents to consent to waiving certain bond covenants……..Full Article: Source


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