Helenbergh China starts capped exchange offer for 12 7/8% notes

Chicago, Sept. 20 – Helenbergh China Holdings Ltd. started a capped exchange offer relating to its existing $550 million outstanding 12 7/8% senior notes due 2021 (ISIN: XS2045761140), according to an announcement.

Up to $270 million of the existing notes can be exchanged.

The company is offering to exchange $1,000 of existing notes for a like amount of new green senior notes due 2023. Accrued interest on the existing notes will be paid in cash.

The new notes will have a two-year tenor and a minimum yield of 11%. The yield will be announced on Oct. 4.

The company is conducting a concurrent offering to sell additional green notes.

The exchange offer is not open to U.S. persons.

The offer expires at 11 a.m. ET on Sept. 30.

Results will be announced on Oct. 4.

Settlement is planned for Oct. 8, with listing of the new notes scheduled for Oct. 11.

Haitong International Securities Co. Ltd. is the dealer manager for the exchange offer.

Morrow Sodali Ltd. is the information and exchange agent (+44 20 4513 6933, +852 2319 4130, Helenbergh@investor.morrowsodali.com).

The property developer is based in Guangzhou, China.

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