Xinyuan Real Estate Repays Outstanding Convertible Notes - Quick Facts

(RTTNews) - Xinyuan Real Estate Co., Ltd. (XIN), a residential real estate developer with a primary focus on high growth cities in China, said it has completed the redemption of all of its 5% senior secured convertible notes due 2018. The firm originally announced on November 11, 2014 its intention to fully redeem the Note on December 1, 2014 pursuant to a note redemption agreement entered into with TPG on November 7, 2014.

The company redeemed the note in full earlier on November 21, 2014, reducing the interest payable in connection with the redemption. The total cash redemption amount, including the Principal, accrued interest up to and including November 21, 2014 and the premium, totaled $86.27 million.