Aoyuan Secures Two Tranches of Three-Year Syndicated Loan Totalling over HK$2.1 Billion Sound Financial Management with Continuous Debt Structure Optimization
Date：2021-05-18
(May 18, 2021 – Hong Kong) China Aoyuan Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883) is pleased to announce that the Company has secured two tranches of three-year offshore syndicated loan totalling over HK$2.1 billion, with Bank of China (Hong Kong), Bank of East Asia, Barclays Bank, China Construction Bank (Asia), China Minsheng Bank Hong Kong Branch, Chong Hing Bank, CMB Wing Lung Bank, Deutsche Bank, Hang Seng Bank, Nanyang Commercial Bank, Standard Chartered Bank (Hong Kong) and Tai Fung Bank (in alphabetical order).
The syndicated loan will bear an interest rate of HIBOR/LIBOR plus 4.30% per annum. The proceeds will mainly be used for refinancing its existing offshore indebtedness.
Aoyuan management commented, “The two tranches of syndicated loan this year are backed by 12 commercial banks in total, reaffirming the banking sector’s confidence in Aoyuan’s comprehensive strength and prospects. Aoyuan is committed to prudent capital management with refinancing arrangement planned in advance, as well as continuous optimization of its debt structure. In January 2021, Aoyuan issued US$188 million 4.2% senior notes due 2022 at par through exchange offer and new issuance, setting a record-low borrowing cost among Aoyuan’s bond issuances once again. In February 2021, Aoyuan issued 6-year US$350 million 5.88% senior notes, representing the longest bond maturity ever issued by Aoyuan. Aoyuan also values corporate credibility, having redeemed all public offshore senior notes due 2021 and completed offshore syndicated loan refinancing. Looking forward, Aoyuan will continue to maintain sound financial management 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.”
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May 18 2021: General Disclosure Under Rule 13.18 of the Listing Rules
March 8 2021: General Disclosure Under Rule 13.18 of the Listing Rules