General Announcement::COMPLETION OF THE EXCHANGE OFFER AND ISSUE OF SENIOR NOTES DUE 2023

Issuer & Securities

Issuer/ Manager
GANGLONG CHINA PROPERTY GROUP LIMITED
Securities
GANGLONG US$158M13.5%N221111 - XS2400313883 - JUDB
GANGLONG US$145M13.5%N231108 - XS2545232832 - GMSB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
09-Nov-2022 23:11:36
Status
New
Announcement Sub Title
COMPLETION OF THE EXCHANGE OFFER AND ISSUE OF SENIOR NOTES DUE 2023
Announcement Reference
SG221109OTHR90BO
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)
Reference is made to the announcements of the Company dated October 26, 2022, November 1, 2022 and November 3, 2022 (the Announcements ), in relation to the Exchange Offer. Unless otherwise defined, capitalized terms in this announcement will have the same meaning as those defined in the Announcements.

The Board is pleased to announce that on November 9, 2022, all conditions precedent to the Exchange Offer have been fulfilled, and the Exchange Offer has been completed. Pursuant to the terms and conditions of the Exchange Offer, a total of US$145,000,000 in principal amount of the Existing Notes were validly tendered for exchange and accepted by the Company. Upon cancellation of these Existing Notes, the remaining outstanding principal amount of the Existing Notes will be US$13,000,000. In exchange of the Existing Notes validly tendered and accepted, the Company has issuedUS$145,000,000 of the New Notes pursuant to the Exchange Offer. The New Notes will mature on November 8, 2023, and bear interest from and including November 9, 2022 at the rate of 13.5% per annum, payable in arrears on May 9, 2023 and November 8, 2023.

As of the date of this announcement, the necessary funds to pay the principal and accrued but unpaid interest on the remaining outstanding Existing Notes on their maturity date, in the amount of approximately US$13.9 million, have been deposited and reserved in the bank account for the Company to make such payments on the maturity date.

Attachments

COMPLETION OF THE EXCHANGE OFFER AND ISSUE OF SENIOR NOTES DUE 2023.pdf
Total size =190K