General Announcement::PARTIAL REPURCHASE OF SENIOR NOTES DUE 2022

Issuer & Securities

Issuer/ Manager
CENTRAL CHINA REAL ESTATE LIMITED
Securities
CENTCHINA US$300M6.875%N220808 - XS2037190514 - HTMB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
31-Jul-2022 23:43:19
Status
New
Announcement Sub Title
PARTIAL REPURCHASE OF SENIOR NOTES DUE 2022
Announcement Reference
SG220731OTHRT8O9
Submitted By (Co./ Ind. Name)
CCRE
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Between 22 July 2022 and 29 July 2022, the Company has in the open market repurchased part of the August 2022 Notes in an aggregate principal amount of US$27,325,000, representing approximately 5.47% of the aggregate principal amount of the August 2022 Notes. As at the date of this announcement, the outstanding principal amount of the August 2022 Notes is US$472,675,000. The Board expects to cancel the senior notes which have been repurchased, which will thereafter cease to be outstanding. The Board considers that the repurchases of the senior notes will reduce the Company's future financial expenses and lower its financial gearing level, and are therefore in the interests of the Company and its shareholders as a whole. The Company will continue to monitor its capital structure and the market conditions and may further repurchase its senior notes as and when appropriate.

Noteholders and potential investors should note that any purchase of the senior notes from time to time by the Company will be at the Board's sole and absolute discretion. There is no assurance of the timing, amount or price of any purchase of the senior notes or whether the Company will make any further purchase at all. Noteholders and potential investors should therefore exercise caution when dealing in any senior notes of the Company.

Please refer to the attachment for your more details.

Attachments

Central China Repurchase SN Ann Singapore Version.pdf
Total size =62K