Hong Kong’s Jiayuan offers to buy some 13¾% notes due 2022, 2023

Chicago, July 29 – Jiayuan International Group Ltd. launched a capped tender offer for its 13¾% senior notes due 2022 (ISIN: XS2024526043) and its 13¾% senior notes due 2023 (ISIN: XS2066357034), according to an announcement.

The maximum acceptance amount for both series is expected to be $100 million.

There are currently $145,207,000 of the 2022 notes outstanding and $327.5 million of the 2023 notes outstanding.

The company is offering to buy the 2022 notes at par and the 2023 notes at $1,027.95 per $1,000 note. Interest will also be paid.

Tenders may be subject to proration.

Through the repurchases, the company is attempting to proactively manage its balance sheet liabilities and optimize its debt structure.

Funding for the offers will come from internal funding resources.

The offer will expire at 11 a.m. ET on Aug. 13. Settlement is expected for Aug. 20.

HSBC Ltd. (+852 3941 0223, +44 20 7992 6237, liability.management@hsbcib.com) is the dealer manager.

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

The property developer is based in Hong Kong.

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