PYI Corporation Ltd. (0498.HK) has bought US$28.0 million worth of senior notes issued by Chinese property developer China Evergrande Group (3333.HK).
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The ports and infrastructure investor said after markets closed Wednesday that the investment in the 8-year notes, which carry 8.75% annual interest rate, is expected to expand its treasury investment and bring a favourable return to the company.
The purchase is funded by internal resources of the Group and other borrowings, it added.
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(END) Dow Jones Newswires
June 28, 2017 20:09 ET (00:09 GMT)