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Aoyuan Issues US$200 million 7.35% 4-year Senior Notes through Private Placement to an Internationally Renowned Institutional Investor
(June 14, 2019 – Hong Kong) China Aoyuan Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883) is pleased to announce that the Company successfully issued US$200 million 7.35% 4-year senior notes at par through private placement to an internationally renowned institutional investor.
The estimated net proceeds of the new notes (after deducting associated fees and other estimated expense payable in connection with this placement) will amount to approximately US$198 million. The Company intends to use the proceeds to refinance its existing offshore indebtedness. 
Aoyuan management commented, “This private placement has reaffirmed international capital markets’ confidence in and recognition of Aoyuan’s comprehensive strength and prospects. Aoyuan is committed to diversifying its financing channels. Aoyuan opened the Asia USD bond market in 2019 and subsequently launched the first fully marketed three-year PRC property high yield issuance since Q4 2018, raising a total of US$1.0 billion. In addition, Aoyuan secured a three-year syndicated loan of approximately HK$1.3 billion in April 2019, further extending Aoyuan’s debt maturity profile. Moreover, Aoyuan’s domestic credit rating was recently upgraded to ‘AAA’ by United Credit Ratings, which helps lower borrowing cost. Looking forward, Aoyuan will adhere to its prudent financial management and continue to attain rapid and high-quality growth, thus bringing fruitful returns to shareholders and investors.”