Modern Land (China) commences third tender offer for 7.95% notes

Chicago, Aug. 31 – Modern Land (China) Co., Ltd. started its third tender offer for its remaining $235,004,000 7.95% senior notes due 2021 (ISIN: XS1775946285), according to an offer document.

The original issue size was $350 million.

The company is offering $1,005 for each $1,000 face amount of notes plus interest to, but excluding, the settlement date.

The company is conducting a concurrent new issuance and will accept a maximum amount based on, and expected to be the same as, the new issue amount.

The tender offer will expire at 11 a.m. ET on Sept. 9.

Settlement is planned for Sept. 14.

Modern Land is conducting the offer to proactively manage its balance sheet liabilities.

Deutsche Bank AG, Singapore Branch, Merrill Lynch (Asia Pacific) Ltd., HSBC Ltd., Guotai Junan Securities (Hong Kong) Ltd. and Morgan Stanley & Co. International plc are the joint dealer managers.

D.F. King is the information and tender agent (+44 20 7920 9700, +852 3953 7208, modernland@dfkingltd.com).

Beijing-based Modern Land is a property developer focusing on the development of green, energy-saving and eco-friendly residences.

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