General Announcement::(1) EXCHANGE OFFER FOR THE OUTSTANDING SENIOR NOTES; AND (2) PROPOSED ISSUANCE OF NEW SENIOR NOTES

Issuer & Securities

Issuer/ Manager
GANGLONG CHINA PROPERTY GROUP LIMITED
Securities
GANGLONG US$150M13.5%N211201 - XS2256723938 - KFXB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Oct-2021 07:46:07
Status
New
Announcement Sub Title
(1) EXCHANGE OFFER FOR THE OUTSTANDING SENIOR NOTES; AND (2) PROPOSED ISSUANCE OF NEW SENIOR NOTES
Announcement Reference
SG211026OTHRSBWY
Submitted By (Co./ Ind. Name)
Ganglong China Property Group Limited
Designation
IR Department
Description (Please provide a detailed description of the event in the box below)
(1) EXCHANGE OFFER FOR THE OUTSTANDING 13.5% SENIOR NOTES DUE 2021 (ISIN: XS2256723938/COMMON CODE: 225672393)

The Company is offering to exchange any and all of its outstanding Existing Notes held by Eligible Holders in accordance with the terms and conditions as set out in the Exchange Offer Memorandum.

Exchange Consideration- For each US$1,000 principal amount of outstanding Existing Notes that is validly tendered prior to the Exchange Expiration Deadline and accepted for exchange, an Eligible Holder of the Existing Notes will receive the consideration below (the Exchange Consideration ):
(A) US$1,000 in aggregate principal amount of the New Notes;
(B) Accrued Interest (rounded to the nearest US$0.01, with US$0.005 rounded upwards); and
(C) subject to the requirement that any New Notes issued to any Eligible Holder be in a minimum principal amount of US$200,000 and integral multiples of US$1,000 in excess thereof.

(2) CONCURRENT NEW MONEY ISSUANCE

Concurrently with the Exchange Offer, the Company is conducting a separate concurrent offering to issue and sell Additional New Notes. If the Concurrent New Money Issuance is consummated, the Company will use the net cash proceeds from the Concurrent New Money Issuance for refinancing and general corporate/working capital purpose.

Upon issuance, any Additional New Notes sold in the Concurrent New Money Issuance will be on the same terms and form a single series with the corresponding New Notes issued in the Exchange Offer.

Application has been made for the listing of the New Notes on the SGX-ST. Approval in-principle from, admission to the Official List of, and the listing and quotation of the New Notes on the SGX-ST are not to be taken as an indication of the merits of the Exchange Offer, the Company or the New Notes. The SGX-ST assumes no responsibility for the contents of this announcement. No listing of the New Notes has been sought in Hong Kong.

Please see attached announcement for further details.

Attachments

Ganglong China Exchange Offer and Issuance of Senior Notes.pdf
Total size =126K