Sunac China begins partial tender offer for 8 3/8% notes due 2021

Chicago, Nov. 30 – Sunac China Holdings Ltd. launched a tender offer on Nov. 26 for part of its currently outstanding $561.4 million of 8 3/8% senior notes due 2021 (ISIN: XS1936202644), according to an announcement.

The original issue size was $600 million.

The company will pay a repurchase price of $1,008.50 for each $1,000 of notes, plus interest.

The cap will be determined by a concurrent new issue of notes and will be announced later.

The offer is subject to proration.

The expiration time is 11 a.m. ET on Dec. 4, and settlement is expected for Dec. 8.

The company is conducting the offer to proactively manage its liabilities and optimize its debt structure.

The offer will be funded from a new issue of notes mentioned above and internal funding.

Morrow Sodali Ltd. is working as the information and tender agent (+44 20 8089 3287, +852 2158 8405, sunac@investor.morrowsodali.com, http://bonds.morrowsodali.com/sunac).

Morgan Stanley & Co. International plc is the dealer manager.

Sunac is a Tianjin, China-based residential and commercial property developer.

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