(2 March 2017 – Hong Kong) China Aoyuan Property Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883), a renowned property developer in China, is pleased to announce that the Company has redeemed an aggregate principal amount of US$300 million 11.25% Senior Notes due 2019 (the “Notes”). The redemption was in accordance with the indenture constituting the Notes by way of the Company exercising its optional redemption right.

 

Aoyuan management commented: “Aoyuan has become the first Asian issuer to successfully complete a US$250 million senior notes offering in early 2017, followed by securing a HK$1.5 billion three-year club loan from six offshore banks. The proceeds raised is mainly used for the early redemption of the Notes as planned, which will allow the Company to reduce its interest expenditure, lower its borrowing costs and optimize its debt structure. Looking ahead, Aoyuan will continue to diversify its financing channels in onshore and offshore capital markets, so as to continuously enhance its financial strength while maintaining its rapid business growth.”