Greenland Hong Kong Buys Back Bond While Parent Struggles (2)

A unit of Greenland Holdings Corp. said it repurchased 12% of a dollar bond maturing June 3, coming as the Chinese builder stunned the market with a proposed note-repayment delay.

Greenland Hong Kong Holdings Ltd. bought $18.5 million of the note, it said in a stock exchange filing Monday. The bond’s price jumped a combined 8.8 cents on Thursday and Friday to 95.9 cents on the dollar while Greenland Holdings’ offshore notes plunged. The subsidiary didn’t say when the purchases were made or at what price. But firms have bought back debt ahead of a bond’s maturity when prices ...