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Aoyuan Successfully Issues 6-year US$350 Million 5.88% Senior Notes First USD Bond Issuance by PRC Developer in Year of Ox Longest Bond Maturity Ever Issued by Aoyuan

      (22 February 2021 – Hong Kong) China Aoyuan Group Limited(“Aoyuan” or the “Company”, Stock Code: 3883) announces that the Company has successfully issued US$350 million 5.88% senior notes due 2027. 


      The estimated net proceeds of the new notes (after deducting the underwriting commission and other estimated expense payable in connection with this offering) will amount to approximately US$343 million. The Company intends to use the proceeds to refinance its existing offshore indebtedness. The joint lead managers and the joint bookrunners of the new notes are (in alphabetical order) BofA Securities, Bank of East Asia, Barclays, CICC, CMBC Capital, CMB International, Credit Suisse, Deutsche Bank, DBS Bank, Guotai Junan International, Haitong International, Industrial Bank Hong Kong Branch, J.P. Morgan, OCBC Bank and UBS.


      Aoyuan management commented, “Representing the first USD bond issuance by a PRC developer in the Year of Ox, the new notes issuance is the longest bond maturity ever issued by Aoyuan, optimizing Aoyuan’s maturity profile and lowering its borrowing cost. The successful issuance demonstrates the international capital markets’confidence and recognition for Aoyuan’s comprehensive strength.Looking forward, Aoyuan will continue to exercise financial prudence and maintain diversified onshore and offshore financing channels in order to ensure fund safety. Meanwhile, the Company will keep up its efforts in driving quality and sustainable development, thus bringing fruitful returns to shareholders and investors.”