China Jinmao sees tenders of $168.89 million Franshion 5 3/8% notes

By Wendy Van Sickle

Columbus, Ohio, June 28 – China Jinmao Holdings Group Ltd. received and accepted tenders of $168,891,000, or 56.3%, of the $300 million of 5 3/8% senior guaranteed notes due 2018 issued by its subsidiary Franshion Brilliant Ltd.

The tender offer for the notes opened on June 21 and ended at 11 a.m. ET on June 28. Settlement is planned for July 3.

China Jinmao will pay $1,040.50 per $1,000 principal amount of the notes plus accrued interest up to but excluding the settlement date.

Following settlement, $131,109,000 of the notes will remain outstanding, according to a company update on Wednesday.

Alongside the tender, Franshion Brilliant Ltd. priced $300 million of 4% senior guaranteed perpetual capital securities on June 22.

Completion of the tender offer is subject to a financing condition.

Standard Chartered Bank (+852 3983 8656, +852 3983 8647 or liability_management@sc.com) and HSBC (+852 2822 4100, +44 20 7992 6237 or liability.management@hsbcib.com) are dealer managers. D.F. King Ltd. (jinmao@dfkingltd.com, +44 20 7920 9700, +852 3953 7230 or https://sites.dfkingltd.com/jinmao) is tender agent.

China Jinmao is a Hong Kong-based investment holding company that invests in and develops real estate in mainland China.

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