Agile Group, one of China’s top home sellers, has redeemed a RMB 1.5 billion ($207 million) bond due this month, according to a late Wednesday filing with the Hong Kong exchange, reports the South China Morning Post.
The bond was sold by Guangzhou Panyu Agile Realty Development, an indirect wholly owned subsidiary of Agile Group, in October 2020. The total redemption of RMB 1.593 billion included the principal sum and 6.2% annual interest on the securities, according to the filing.
In January, Agile Group decided to sell its 26.7% stake in a Guangzhou property joint venture for RMB 1.84 billion to a unit of China Overseas Land & Investment, a property arm of China State Construction Engineering, which is directly owned by the state-backed Assets Supervision and Administration Commission of the State Council.