Central China Real Estate gets consents to amend seven note series

By Marisa Wong

Los Angeles, Sept. 24 – Central China Real Estate Ltd. said it obtained the necessary consents to amend seven series of notes.

Central China launched on Sept. 14 a consent solicitation to conform the terms and conditions of those seven series of notes with the terms of its more recently issued 7.65% senior notes due 2023 and 7¼% senior notes due 2024.

Specifically, the company sought consents from holders of the following notes:

• 6¾% senior notes due 2021 (ISIN: XS1512966372);

• 6½% senior notes due 2021 (ISIN: XS1759562710);

• 7¼% senior notes due 2023 (ISIN: XS1984473071);

• 6 7/8% senior notes due 2022 (ISIN: XS2037190514);

• 7.9% senior notes due 2023 (ISIN: XS2076398184);

• 7¼% senior notes due 2024 (ISIN: XS2102302200); and

• 6 7/8% senior notes due 2021 (ISIN: XS2115155033).

The consent solicitation expired at 11 a.m. ET on Sept. 23.

Noteholders will receive $2.00 for each $1,000 principal amount of notes for which consents were delivered.

Payment is conditioned on the receipt of consents from a majority of holders for each series, as previously reported.

The record date for the consent solicitation is 11 a.m. ET on Sept. 11.

Morgan Stanley & Co. International plc (+852 3963 0371) and BNP Paribas (+852 2108 5228) are the solicitation agents.

Morrow Sodali (+44 20 8089 3287, +852 2158 8405; ccre@investor.morrowsodali.com; https://bonds.morrowsodali.com/ccre) is the information and tabulation agent.

The investment holding company is based in Zhengzhou City, China, and primarily engages in property development in China’s Henan Province.

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