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Bond Market News

China SCE Group Prepares Funds for April Dollar Bond Redemption

April 12, 2023

China SCE Group said in an investor call Tuesday that it is preparing funds to repay its outstanding $293.5mn 7.25% dollar bond due April 19. The bond is currently trading at ~98.4 cents on the dollar. Sources said that the funds for repayment would mainly come from its state-backed bond issuance in January and its property sales in the last two months. Last month, China SCE had bought back $206.5mn of the notes. The developer added that it is preparing to issue a second state-backed bond.

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