China Modern Dairy repurchases and cancels portion of 2026 bonds

China Modern Dairy Holdings Ltd. (HKEX: 1117) announced the partial repurchase and cancellation of its U.S.$500,000,000 2.125% bonds due in 2026 (Stock Code: 40765). As of May 8, 2025, the company has repurchased U.S.$51,666,000 in aggregate principal amount of the bonds on the open market since their issuance, representing approximately 10.33% of the initial aggregate principal amount. Following the cancellation of these repurchased bonds, the outstanding principal amount of the bonds is now U.S.$448,334,000, representing approximately 89.67% of the initial principal amount. The company stated that it will continue to monitor market conditions and may further repurchase bonds as appropriate and will issue further announcements upon each subsequent 5% interval of initial aggregate principal amount redeemed or cancelled in accordance with listing rules.