CHINAHONGQIAO (01378) has announced the early redemption of its outstanding senior unsecured notes due 2028.
According to the terms of the notes and the indenture dated January 10, 2025, the company has notified the trustee and noteholders that all outstanding notes will be redeemed on September 11, 2026. The redemption price will be 100% of the principal amount, plus the applicable premium as defined in the indenture, along with accrued and unpaid interest up to but not including the redemption date.
As of the announcement date, the total outstanding principal amount of the notes is $330 million, carrying an interest rate of 7.05%. The company plans to use its internal resources to fund the redemption payment. Following the completion of the redemption, all redeemed notes will be cancelled and delisted from the official list of the Singapore Exchange Securities Trading Limited.
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