China’s Haidilao offers to buy up to $240 million of notes due 2026

Chicago, Oct. 10 – Haidilao International Holding Ltd. started a tender offer on Monday for a capped amount of its $539,292,000 outstanding notes due Jan. 14, 2026 (ISIN: XS2281463237).

The company is offering $848 per $1,000 principal amount of notes, plus accrued interest.

It is the company’s intention to accept $240 million principal amount of notes, although that cap may change.

Tenders may be prorated.

The company is conducting the tender offer to actively manage its balance sheet liabilities and optimize its debt structure.

Financing for the offer will come from internal resources.

Tender instructions are due by 11 a.m. ET on Oct. 18.

Results will be announced on Oct. 19 with settlement planned for Oct. 21.

HSBC Ltd. is the dealer managers (+852 3941 0223, liability.management@hsbcib.com).

Kroll Issuer Services Ltd. is the information and tender agent (+852 2281 0114, +44 20 7704 0880, haidilao@is.kroll.com, https://deals.is.kroll.com/haidilao).

The chain of hot pot restaurants is based in Jianyang, China.

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