US$149.6M current notes accepted for change provide of seven.5% senior notes due 2022
HONG KONG SAR – Media OutReach – 21 January 2022 – JY Grandmark Holdings Restricted (“JY Grandmark” or the “Firm”, which along with its subsidiaries, is known as the “Group”, inventory code: 2231), a property developer and operator and property administration service supplier primarily based within the Individuals’s Republic of China (the “PRC”), is happy to announce that the Group intends to situation US$152.1 million 7.5% senior notes due 2023. Haitong Worldwide Securities Firm Restricted (Haitong Worldwide) is the only real international coordinator, joint bookrunner and joint lead supervisor.
Sure kin of Mr. Chan Sze Ming Michael, an government Director and the chairman of the Firm, have participated within the Alternate Supply in addition to the subscription to the Concurrent New Cash Issuance and are anticipated to be issued roughly 84.98% of the whole principal quantity of the New Notes to be issued.
As well as, the Group introduced the outcomes of change provide for the 7.5% senior notes due 2022. As on the change expiration deadline, US$149.6 million of the present notes, representing roughly 96.52% of the whole mixture principal quantity of the excellent current notes, have been validly tendered for change and accepted pursuant to the change provide.
Mr. Michael Chan, Chairman and Govt Director of JY Grandmark stated, “The consummation of the Alternate Supply and the Concurrent New Cash Issuance will allow the Group to increase its debt maturity profile and enhance its debt construction. In view of the difficult working surroundings, JY Grandmark is dedicated to optimizing the debt construction and adhering to prudent monetary methods and insurance policies to enhance the Group’s resilience. Trying forward, the Group will proceed to try to optimize its monetary construction and broaden financing channels. The sound monetary circumstances and diversified funding channels enabled the Group to realize sustainable and high-quality growth beneath the background of tightening funding within the trade.”
About JY Grandmark Holdings Restricted
JY Grandmark is a property developer, operator and property administration service supplier primarily based within the PRC. It runs 4 principal companies, specifically (i) property growth and gross sales, (ii) resort operations, (iii) property administration and (iv) industrial property funding. The shares of JY Grandmark have been listed on the Hong Kong Inventory Alternate since December 2019 and the Group has been included as a constituent of the MSCI China Small Cap Index since Might 2020.
JY Grandmark has land sources in Guangdong, Hainan, Yunnan and Hunan provinces for its future growth. The Group positions itself as an “Eco-friendly and Individuals-oriented Property Developer” and purchased land reserves in strategic places with ample pure sources, wealthy tradition and potential for progress. The Group takes under consideration the pure and cultural sources of its mission website within the design of properties to develop houses and communities that the Group considers to be really habitable for consumers. This correct positioning differentiates the Group from different property builders within the PRC.
The issuer is solely liable for the content material of this announcement.