China’s Guangzhou R&F units expect to get consents to amend notes

By Marisa Wong

Morgantown, W.Va., April 11 – The issuers of three series of senior notes guaranteed by Guangzhou R&F Properties Co., Ltd.’s wholly owned subsidiary, R&F Properties (HK) Co. Ltd., expect to obtain the necessary noteholder consents to amend those notes, according to a company announcement on Monday.

As announced on March 24, Big Will Investments Ltd. is seeking to amend its 10 7/8% senior notes due 2016, Caifu Holdings Ltd. is seeking to amend its 8¾% senior notes due 2020, and Trillion Chance Ltd. is seeking to amend its 8½% senior notes due 2019.

As of the early voting deadline at 11 a.m. ET on April 8, holders of at least 94% of each of Caifu and Trillion Chance’s notes and holders of at least 89% of Big Will’s notes submitted consent instructions in favor of the amendments.

The issuers will convene separate noteholder meetings on April 18 to vote on the proposed changes. The companies expect a quorum to be met and the extraordinary resolution to be passed at each meeting.

Details of the amendments were not disclosed in the company announcements.

Citigroup Global Markets Ltd. (fax +44 20 7986 1929, liabilitymanagement.asia@citi.com, attn.: debt syndicate desk) is the solicitation agent. D.F. King (+44 20 7920 9700 in London, +852 3953 7230 in Hong Kong, guangzhourf@dfkingltd.com) is the tabulation and information agent.

The real estate company is based in Guangzhou, China.

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