Aoyuan Announced The Listing of Further Issuance of New Notes on 29 January, 2013
Time:2013-01-29
(29 January 2013 - Hong Kong) China Aoyuan Property Group Limited ("Aoyuan" or the "Company", together with its subsidiaries the "Group"; Stock Code: 3883), one of the leading property developers in Guangdong Province in China, is pleased to announce that application has been made to The Stock Exchange of Hong Kong Limited for the listing of and permission to deal in the USD senior New Notes as announced on 22 January 2013 by way of debt issues to professional investors. Permission for the listing of, and dealing in, the New Notes is expected to become effective on 29 January 2013.
The issue price of the New Notes was 106.668% of the principal amount, representing a premium of 6.668%. The effective yield of this issuance was12%.The New Notes will be consolidated and form a single series with the US$125,000,000 13.875% Senior Notes issued on 23 November 2012. The estimated net proceeds of the New Notes Issue, after deduction of the underwriting discount and other estimated expense payable in connection with this offering, will amount to approximately US$106 million and the Company intends to use the net proceeds to primarily fund existing and new property projects and land acquisition and for general corporate purposes.
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