LVGEM (China) begins exchange offer for 8½% notes due 2020

Chicago, Feb. 19 – LVGEM (China) Real Estate Investment Co. Ltd. began an exchange offer for all of its outstanding 8 ½% senior notes due 2020, according to a notice.

The company is planning a concurrent issuance of new senior notes.

Noteholders who wish to exchange their notes will receive $1,000 principal amount of new notes plus accrued interest and any fractional amount of notes issued in cash for $1,000 principal amount of their old notes.

The minimum yield on the new notes will be announced on or about Feb. 25.

The exchange deadline is 11 a.m. ET on March 2.

Settlement of the offer is expected for March 10.

Nomura International plc, BOSC International Co. Ltd., AMTD Global Markets Ltd., DBS Bank Ltd. .and Haitong International Securities Co. Ltd. have been mandated as the dealer managers for the exchange offer.

D.F. King (London: +44 20 7920-9700, Hong Kong: +852 3953 7208, https://sites.dfkingltd.com/lvgem) is working as the information and exchange agent.

LVGEM is a property developer based in Hong Kong.

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