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China’s Yango Cayman starts tender offer for 12½% notes due 2021
New York, July 26 – Yango (Cayman) Investment Ltd. announced a tender offer for its 12½% senior notes due 2021 (ISIN: XS2053813338).
The company is offering $1,000 per $1,000 principal amount of the notes plus accrued interest up to but excluding the settlement date, according to an announcement.
Yango was planning to sell an offering of new bonds on Monday and will buy notes up to the principal amount of that transaction. It currently has $285 million of the 12½% notes outstanding.
Completion of the tender is subject to the successful sale of the new debt.
The tender ends at 11 a.m. ET on Aug. 2. Settlement is planned for Aug. 4.
UBS AG Hong Kong Branch (+852 2971 8848 or ol-projectjupiter@ubs.com) and Guotai Junan International (+852 2509 5342 or dcm.mercury@gtjas.com.hk) are dealer managers. D.F. King Ltd. is information and tender agent (+44 20 7920 9700, +852 3953 7208, yango@dfkingltd.com or https://sites.dfkingltd.com/yango).
Yango (Cayman) Investment Ltd. is a subsidiary of Fujian Yango Group Co. Ltd., a real estate development business located in Fujian, China.
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