Hejun Shunze offers to purchase outstanding 9% senior notes due 2021

By Taylor Fox

New York, Jan. 5 – China’s Hejun Shunze Investment Co., Ltd. commenced an offer to purchase any and all of its $192 million outstanding of its original $200 million 9% senior notes due 2021 (ISIN: XS2127887169), according to a general announcement.

Holders who tender notes prior to the expiration date will receive $1,006.5 per $1,000 of notes tendered, plus interest.

If Hejun accepts less than the principal amount of the notes validly tendered, the company will accept tenders of the notes for purchase on a pro rata basis. Such pro rata application will be performed by accepting the proportion of the notes validly tendered which is equal to the total principal amount accepted for tender by the company divided by the principal amount in respect of all the notes validly tendered, subject to rounding.

The offer will be financed using proceeds from the issuance of new notes.

Hejun may redeem the notes not tendered in the offer at par plus interest before March 4.

The offer is being made as part of the company’s efforts to proactively manage its balance sheet liabilities and optimize its debt structure.

The offer will expire at 11 a.m. ET on Jan. 12.

The settlement date is expected to be Jan. 15.

Guotai Junan Securities (Hong Kong) Ltd. is the dealer manager and D.F. King Ltd. (+44 20 7920 9700, +852 3953 7231) is the information and tender agent.

The real estate developer is based in Chengdu, China.

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