Sino-Ocean begins tender offer for $700 million floaters due 2021

By Rebecca Melvin

Concord, N.H., April 21 – Sino-Ocean Group Holding Ltd. has commenced an offer to purchase for cash its floating-rate guaranteed notes due 2021 (ISIN: XS1839375539/183937553) with proceeds of a proposed new issue, according to a notice.

Sino-Ocean Land Treasury IV Ltd. was the issuer of the existing notes and will be issuing the new deal.

The purchase price for the existing notes is 100.2 plus accrued and unpaid interest.

The maximum purchase amount of the tender is conditioned on the proposed issue of guaranteed green notes, which was announced on Tuesday.

HSBC Ltd. (liability.management@hsbcib.com; +852 3941 0223 or +44 20 7992 6237) and China International Capital Corp. Hong Kong Securities Ltd. (IB_FI_HK_Liability_Management@cicc.com.cn; +852 2872 2100) are the dealer managers of the tender offer, and Morrow Sodali Ltd. (sinoocean@investor.morrowsodali.com; +44 20 8089 3287 or +852 2319 4130) is the tender agent.

The property developer is based in Hong Kong.

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