China’s CIFI Holdings gives results of tender offer for 7 5/8% notes due 2023

By Rebecca Melvin

Concord, N.H., May 18 – CIFI Holdings (Group) Co. Ltd. announced results of a tender offer for any and all of its $300 million outstanding 7 5/8% senior notes due 2023 (ISIN: XS1952116983), according to a notice.

As of the offer expiration at 11 a.m. ET on May 17, $57,939,000 principal amount of notes had been validly tendered. Those notes will be accepted, repurchased and canceled on the May 20 settlement date.

CIFI was offering to pay $1,040.20 for each $1,000 note, plus interest to the settlement date. The aggregate amount to be paid by the company to holders of the accepted notes is about $61,274,435.60 including interest. The company currently expects that, following settlement of the offer, $242,061,000 in aggregate principal amount of the notes will remain outstanding.

HSBC Ltd. is the dealer manager for the tender offer.

D.F. King is the information and tender agent (+44 20 7920 9700, +852 3953 7208, cifi@dfking.com, https://sites.dfkingltd.com/CIFI).

CIFI, based in Shanghai, is a real estate developer that builds properties in first- and second-tier cities in China.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.