Aoyuan Successfully Issues 3-year US$100 million 9.25% Senior Notes through Private Offering
Date：2015-04-01
(1 April 2015 - Hong Kong) China Aoyuan Property Group Limited ("Aoyuan" or the "Company", Stock Code: 3883), a renowned property developer in China, is pleased to announce the Company successfully issued a US$100 million 9.25% senior notes due 2018 through private offering. The proceeds of the notes issuing are to be used for refinancing the existing indebtedness and for general corporate purposes.
Aoyuan management commented, "In 2014, Aoyuan successfully achieved deleveraging. The net gearing ratio was lowered to 61.8%, which was at a low to moderate level in the industry. Apart from the introduction of Huaxia Insurance as a strategic investor of the Company"s project company by means of capital injection last year, Aoyuan will continue to optimize our capital structure through diversified financing channels, while strengthening cash flows and maintaining steady financial position, so as to provide funding support to the Company"s healthy development."