General Announcement::PARTIAL REPURCHASE OF SENIOR NOTES

Issuer & Securities

Issuer/ Manager
CENTRAL CHINA REAL ESTATE LIMITED
Securities
CENT CHINA US$200M7.9%N231107 - XS2076398184 - JMMB
CENT CHINA US$300M7.25%N240813 - XS2215180550 - YH3B
CENT CHINA US$300M7.75%N240524 - XS2262030369 - XGNB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
06-Oct-2021 22:54:05
Status
New
Announcement Sub Title
PARTIAL REPURCHASE OF SENIOR NOTES
Announcement Reference
SG211006OTHREOA1
Submitted By (Co./ Ind. Name)
CCRE
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Between 1 September 2021 and 30 September 2021, the Company has in the open market purchased (i) part of the 7.9% senior notes due November 2023 (the "November 2023 Notes") (ISIN: XS2076398184) in an aggregate principal amount of US$2,700,000, representing approximately 1.35% of the initial aggregate principal amount of the November 2023 Notes; (ii) part of the 7.75% senior notes due May 2024 (the "May 2024 Notes") (ISIN: XS2262030369) in an aggregate principal amount of US$2,451,000, representing approximately 0.82% of the initial aggregate principal amount of the May 2024 Notes; and (iii) part of the 7.25% senior notes due August 2024 (the "August 2024 Notes") (ISIN: XS2215180550) in an aggregate principal amount of US$8,770,000, representing approximately 2.92% of the initial aggregate principal amount of the August 2024 Notes. As at the date of this announcement, the outstanding principal amount of the November 2023 Notes, the May 2024 Notes and the August 2024 Notes is US$200,000,000, US$300,000,000 and US$300,000,000, respectively. 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 the market conditions and its financial structure 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

ew_00832ann-0610202SG.pdf
Total size =63K