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.
China SCE Group Prepares Funds for April Dollar Bond Redemption
