General Announcement::CLARIFICATION ON THE EXCHANGE OFFER AND/OR CONSENT SOLICITATION

Issuer & Securities

Issuer/ Manager
CENTRAL CHINA REAL ESTATE LIMITED
Securities
CENT CHINA US$300M7.25%N230424 - XS1984473071 - KLYB
CENT CHINA US$200M7.9%N231107 - XS2076398184 - JMMB
CENT CHINAUS$400M7.65%N230827 - XS2189387520 - KCZB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
13-Apr-2023 12:15:00
Status
New
Announcement Sub Title
CLARIFICATION ON THE EXCHANGE OFFER AND/OR CONSENT SOLICITATION
Announcement Reference
SG230413OTHRYWSO
Submitted By (Co./ Ind. Name)
CCRE
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Reference is made to the announcement of the Company dated April 3, 2023 (the "Announcement") and the Exchange Offer and Consent Solicitation Memorandum dated April 3, 2023 (the "Exchange Offer and Consent Solicitation Memorandum") in relation to the Exchange Offer and Consent Solicitation. Capitalized terms used in this announcement shall have the same meaning ascribed to them in the Announcement and the Exchange Offer and Consent Solicitation Memorandum.

The Company would like to highlight that in its effort to ensure fair treatment of holders of the proposed New Notes, given the proposed New Notes to be issued under the Exchange Offer (subject to its consummation) will have later maturities than the January 2020 Notes, the August 2020 Notes, the November 2020 Notes and the January 2021 Notes, it has already included under the proposed terms of each series of New Notes a requirement for the Company (a) to conduct a publicly announced cash tender offer in respect of such New Notes, or (b) to redeem such New Notes on a pro rata basis, within 60 days after the occurrence of certain repayment events under the January 2020 Notes, the August 2020 Notes, the November 2020 Notes and the January 2021 Notes. Eligible Holders should refer to the provision "Mandatory Redemption Upon a Notes Repayment Event" under the sections headed "Description of the April 2025 Notes", "Description of the August 2025 Notes" and "Description of the November 2025 Notes" in the Exchange Offer and Consent Solicitation Memorandum for further information.

The Company believes that the repayment terms under the proposed New Notes, including the provision "Mandatory Redemption on Specified Dates" relating to the scheduled early repayments of the New Notes, and the provision "Mandatory Redemption Upon a Notes Repayment Event" mentioned above, would provide equitable treatment and protection to Eligible Holders who participate in the Exchange Offer. The Company would encourage Eligible Holders who have not yet tendered their Exchange Notes to do so under the Exchange Offer as soon as possible.

Please refer to the attachment for your more details.

Attachments

ew_00832ann13042022 SG.pdf
Total size =76K