China’s Haidilao accepts tenders of $240.31 million notes due 2026

By Wendy Van Sickle

Columbus, Ohio, Oct. 19 – Haidilao International Holding Ltd. received and accepted tenders of $240,312,000 principal amount of notes under its tender offer for its $539,292,000 outstanding notes due Jan. 14, 2026 (ISIN: XS2281463237), according to a regulatory filing with the Stock Exchange of Hong Kong.

The company initially planned to have a cap of $240 million principal amount but decided to accept all of the tenders received.

As announced on Oct. 10, the company was offering $848 per $1,000 principal amount of notes, plus accrued interest.

The company is conducting the tender offer to actively manage its balance sheet liabilities and optimize its debt structure.

Financing for the offer will come from internal resources.

Tender instructions were due by 11 a.m. ET on Oct. 18.

Settlement is planned for Oct. 21. Afterward, there will be $298.98 million of the notes outstanding.

HSBC Ltd. is the dealer manager (+852 3941 0223, liability.management@hsbcib.com).

Kroll Issuer Services Ltd. is the information and tender agent (+852 2281 0114, +44 20 7704 0880, haidilao@is.kroll.com, https://deals.is.kroll.com/haidilao).

The chain of hot pot restaurants is based in Jianyang, China.

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