China Shanshui Dollar Bonds Climb on Early Repayment Plan
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China Shanshui Cement Group Ltd.’s dollar bonds due for repayment in 2020 climbed after the cement maker said it would repay them early, boosting investors’ confidence following a shareholder scrap.
China Shanshui plans to commence buying back the $500 million of outstanding notes by Jan. 19 after the tussle triggered early redemption, according to a statement Thursday. The company also intends to pay the principal of 2 billion yuan ($303.6 million) of onshore bonds that defaulted in November, said Zhao Yongkui, who was appointed as director of its Shandong unit on Dec. 3, in an interview Friday.