General Announcement::EXCHANGE OFFER AND CONSENT SOLICITATION

Issuer & Securities

Issuer/ Manager
CENTRAL CHINA REAL ESTATE LIMITED
Securities
CENT CHINA US$300M7.25%N230424 - XS1984473071 - KLYB
CENT CHINA US$200M7.25%N240716 - XS2102302200 - W7DB
CENT CHINA US$200M7.9%N231107 - XS2076398184 - JMMB
CENT CHINAUS$400M7.65%N230827 - XS2189387520 - KCZB
CENT CHINA US$300M7.25%N240813 - XS2215180550 - YH3B
CENT CHINA US$300M7.75%N240524 - XS2262030369 - XGNB
CENT CHINA US$260M7.5%N250714 - XS2282587414 - YUFB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
03-Apr-2023 13:05:30
Status
New
Announcement Sub Title
EXCHANGE OFFER AND CONSENT SOLICITATION
Announcement Reference
SG230403OTHRPG88
Submitted By (Co./ Ind. Name)
CCRE
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
On the date of this announcement, Central China Real Estate Limited, a company incorporated in the Cayman Islands with limited liability (the "Company') commenced the offer (the "Exchange Offer") to exchange in respect of (A) at least US$270,000,000, or 90%, of the aggregate outstanding principal amount of the April 2019 Notes (the "April 2019 Notes Minimum Acceptance Amount"), (B) at least US$177,570,000, or 90%, of the aggregate outstanding principal amount of the November 2019 Notes (the "November 2019 Notes Minimum Acceptance Amount") and (C) at least US$360,000,000, or 90%, of the outstanding principal amount of the June 2020 Notes (the "June 2020 Notes Minimum Acceptance Amount" and, together with the April 2019 Notes Minimum Acceptance Amount and the November 2019 Notes Minimum Acceptance Amount, the "Minimum Acceptance Amount") held by Eligible Holders for the Exchange and Consent Consideration (as defined below), and the solicitation of consents from Eligible Holders to approve certain proposed waivers and amendments to the indentures governing the November 2019 Notes and the June 2020 Notes upon the terms and subject to the conditions (the "Consent Solicitation" and, together with the Exchange Offer, the "Exchange Offer and Consent Solicitation") set forth in the Exchange Offer and Consent Solicitation Memorandum. The purpose of the Exchange Offer and Consent Solicitation is to improve the Company s overall financial condition, extend its debt maturity profile, strengthen its balance sheet and improve cash flow management.

The Company is also concurrently soliciting consents from the Holders of the Consent Notes to certain proposed amendments to each of the Consent Notes Indentures, upon the terms and subject to the conditions set forth in the Consent Solicitation Statement. The principal purpose of the Concurrent Consent Solicitation is to amend the events of default provision in the Consent Notes Indentures to carve out any default or event of default in respect of the Consent
Notes as a result of a default or event of default occurring under the Exchange Notes, and to amend other related changes and make certain other updates, in accordance with the terms and subject to the conditions set forth in the Consent Solicitation Statement.

Please refer to the attachment for your more details.

Attachments

ew_00832Ann-03042023 SG.pdf
Total size =189K