China’s Zhongliang tenders for some 8.75% notes due 2021

New York, Jan. 4 – Zhongliang Holdings Group Co. Ltd. began a tender offer for a capped amount of its $250 million of 8.75% senior notes due 2021 (ISIN: XS2108015707), according to an announcement.

The company is offering to pay $1,005 per $1,000 principal amount plus accrued interest up to but excluding the settlement date.

Expiration is set for 11 a.m. ET on Jan. 13 and settlement is planned for Jan. 15.

If the size of a planned new offering of notes is less than $250 million then the maximum amount of notes to be accepted in the offer will be set equal to the size of the new offering. Otherwise all tendered notes will be accepted.

UBS AG Hong Kong Branch and Guotai Junan Securities (Hong Kong) Ltd. are dealer managers. D.F. King is information and tender agent (+44 20 7920 9700, +852 3953 7208, Zhongliang@dfkingltd.com or https://sites.dfkingltd.com/zhongliang).

Zhongliang said it is carrying out the offer as part of “its policy to actively manage its balance sheet liabilities and optimize its debt structure.”

Zhongliang is a Chinese residential property management company based in Shanghai.

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