Easy Tactic details results of exchange offers for three notes

By Marisa Wong

Los Angeles, April 30 – Guangzhou R&F Properties Co., Ltd. subsidiary Easy Tactic Ltd. disclosed, through offeror London One Ltd., more details on the completion of its exchange offers for three series of notes, according to a company announcement on Tuesday.

The offers were launched Feb. 27 and expired at 11 a.m. ET on April 3.

The following notes were subject to the exchange offers: 6˝% cash/7˝% PIK senior notes due July 11, 2025 (ISIN: XS2495355674); 6˝% cash/7˝% PIK senior notes due July 11, 2027 (ISIN: XS2495358009); and 6˝% cash/7˝% PIK senior notes due July 11, 2028 (ISIN: XS2495359403).

The breakdown of existing notes tendered and accepted for exchange is $409,144,920 (for the group A existing notes), $539,162,752 (for the group B existing notes) and $222,176,624 (for the group C existing notes).

As of April 30, the exchange offers’ conditions have been satisfied, settlement of the exchange offers has occurred, and the new perpetual bonds have been issued.

Morrow Sodali Ltd. (https://projects.morrowsodali.com/optimus; gzrf@investor.morrowsodali.com) and Kingsway Capital Ltd. (+852 3583 5497, +852 3583 5498, +852 3583 5499; Enquiry@2024LondonOne.com) acted as the information agent and the exchange information agent, respectively, and Madison Pacific Trust Ltd. was exchange agent and escrow agent for the exchange offers.

Easy Tactic is a special purpose vehicle of Guangzhou, China-based real estate developer R&F Properties.

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