Xinyuan Real Estate solicits consents for interest on notes due 2027

Chicago, April 17 – Xinyuan Real Estate Co., Ltd. is holding a consent solicitation for its $337,930,020 of outstanding 3% senior notes due 2020 (ISIN: XS2639416754), according a solicitation document.

The issuer is asking noteholders to amend certain provisions in the indenture regarding the minimum cash interest requirement for the interest period from Sept. 30, 2023 to April 1, 2024.

Further, the company is asking noteholders to waive any default for the failure to pay interest on the notes on March 31.

The proposed amendments constitute a single proposal.

The issuer needs consents from holders of at least 66% of the outstanding notes.

Of the $337,930,020 outstanding, $48,772,043 is held by the issuer or an affiliate of the issuer. For the purposes of the consent solicitation, they will not be counted as outstanding.

A consent fee of $1.00 per $1,000 note is being offered.

The consent expiration time is 4 a.m. ET on April 26.

Settlement is planned for April 29.

D.F. King & Co., Inc. is the information and tabulation agent for the offer (+44 20 7920 9700, +852 3953 7208, xinyuan@dfking.com, https://www.dfkingltd.com/xinyuan).

Xinyuan is a Beijing-based real estate developer and property manager with properties primarily in China.

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