Lifestyle International starts capped tender offer for 4¼% bonds

Chicago, June 8 – China’s Lifestyle International Holdings Ltd. subsidiary LS Finance (2017) Ltd. commenced a tender offer for the $300 million 4¼% guaranteed bonds due 2022 (ISIN: XS0841191991), according to a notice.

There are currently $286,949,000 of the notes outstanding.

The company is offering to pay 101.15 for the notes, plus interest to the settlement date.

The company plans to conduct a new money issuance to fund the tender offer. The maximum acceptance amount will be determined according to the amount of bonds sold in the new offering. The tender offer is conditioned on the issuance of new notes.

Investors who tender old notes may be given priority allocation for the new bonds, if they indicate their intention to the joint dealer managers.

Depending on the amount tendered and the size of the new issue, tenders may be prorated.

The offer will end at 11 a.m. ET on June 16.

Settlement is expected for June 18.

Morrow Sodali Ltd. (+44 20 8089 3287, +852 2319 4130, lifestyle@investor.morrowsodali.com, https://bonds.morrowsodali.com/lifestyle) is the tender and information agent.

J.P. Morgan Securities plc (fax: +44 20 3493 0682), Standard Chartered Bank (+44 20 7885 5739, +852 3938 8658, +65 6557 8286, liability_management@sc.com) and UBS AG Hong Kong Branch (+852 2971 8888, ol-gb+-blueberry2021@ubs.com) are the joint dealer managers.

Lifestyle International is a retail operator based in Hong Kong.

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