China’s Zhenro Properties accepts for tender 42.15% of 10½% notes

Chicago, May 20 – Zhenro Properties Group Ltd. announced the results of its capped offer to purchase for cash its 10½% senior notes due 2020 (ISIN: XS1821808588), according to an announcement.

Noteholders tendered $168,612,000, or 42.15% of the outstanding principal amount, of a capped offer for $200 million of the notes, as of the expiration time at 11 a.m. ET on May 20.

The company is accepting all of the tendered notes for purchase.

The purchase price is $1,003.5 per $1,000 face amount of notes.

Accordingly, the company will pay $169,202,142 for the notes accepted.

Interest in the amount of $43.458333 per $1,000 principal amount of notes will also be paid.

Following settlement, $231,388,000 of the notes will remain outstanding.

As previously reported, Deutsche Bank AG, Singapore Branch (+65 6423 8367) is working as the dealer manager.

D.F. King Ltd. (+44 20 7920 9700 in London, +852 3953 7208 in Hong Kong, zhenro@dfkingltd.com/zhenro) is acting as the information and tender agent.

The company is a real estate developer and property manager based in Shanghai.

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