PYI Corp Buys US$28 Million Worth of China Evergrande's Senior Notes

By Joanne Chiu Features Dow Jones Newswires

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.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

June 28, 2017 20:09 ET (00:09 GMT)