China’s Huijing Holdings launches exchange offer for notes due July 21

Chicago, July 7 – Huijing Holdings Co. Ltd. started an exchange offer for its $138 million outstanding 12½% senior notes due July 21, 2022 (ISIN: XS2364281506), according to an announcement.

The company is offering a like amount ($1,000 note in exchange for $1,000 note) with the same 12½% interest rate but an extended 364-day tenor and maturity date in 2023.

Accrued interest will also be paid on the existing notes that are exchanged.

There is a minimum exchange condition for 77.826%, or $107.4 million, of the notes.

The new notes will be listed on the Singapore Exchange.

Instructions are irrevocable.

The exchange expiration deadline is 11 a.m. ET on July 13.

Settlement is expected for July 18 with the new notes listed on July 19.

CMB International Capital Ltd. (+852 3761 8990, ProjectMusigny@cmbi.com.hk) is the dealer adviser for the Regulation S offer.

D.F. King & Co., Inc. (+44 20 7920 9700, +852 3953 7208, huijing@dfking.com) is the information and exchange agent for the offer.

Huijing is a Shanghai-based commercial and residential property developer.

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