Sino-Ocean accepts tenders for $214.39 million of floaters due 2021

By Rebecca Melvin

Concord, N.H., April 30 – Sino-Ocean Group Holding Ltd. has accepted for purchase $214,385,000 principal amount of floating-rate guaranteed notes due 2021 (ISIN: XS1839375539) under its tender offer launched on April 21, according to a press release.

The offer expired at 11 a.m. ET on April 29.

The notes were purchased for 100.2% of the principal amount. The company will also pay accrued interest up to the anticipated May 5 settlement date.

After the purchase, the notes will be canceled and there will be $485,615,000 principal amount remaining outstanding.

Sino-Ocean Land Treasury IV Ltd. was the issuer of the existing notes and will be issuing a new deal of guaranteed green notes.

HSBC Ltd. (liability.management@hsbcib.com; +852 3941 0223 or +44 20 7992 6237) and China International Capital Corp. Hong Kong Securities Ltd. (IB_FI_HK_Liability_Management@cicc.com.cn; +852 2872 2100) were the dealer managers of the tender offer, and Morrow Sodali Ltd. (sinoocean@investor.morrowsodali.com; +44 20 8089 3287 or +852 2319 4130) was the tender agent.

The property developer is based in Hong Kong.

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