Aoyuan Redeems US$100 million 9.25% Senior Notes Due 2018
Further Lowers Borrowing Costs and Optimizes Debt Structure
(31 May 2016 - 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$100 million 9.25% Senior Notes due 2018 (the “Notes”). The redemption was in accordance with the indenture constituting the Notes by way of the exercise by the Company of its optional redemption right.
Aoyuan management commented, “Aoyuan successfully issued a US$250 million 6.525% senior notes at par in April 2016, recording an oversubscription of 8.8 times. Certain portion of the proceeds raised from the issuance is used for early redemption of the Notes, which will help further lower the Company’s borrowing costs and optimize its debt structure. Looking forward, we will adhere to prudent financial management and diversify its financing channels in onshore and offshore capital markets, while facilitating the sustainable business development, thus delivering fruitful returns to our shareholders.”
For details, please refer to the announcement published on HKEx’s website: