Agile Property holders put RMB 692.41 million domestic bonds due 2024

By Rebecca Melvin

Concord, N.H., May 13 – Agile Property Holdings Ltd. announced that holders of RMB 692,407,000 domestic bonds due 2024 exercised their put option and that those bonds have been resold.

Guangzhou Panyu Agile Realty Development Co. Ltd., an indirect wholly owned subsidiary of Agile Property, had originally issued RMB 1.45 billion of the bonds with an initial coupon rate of 5.9% in April 2021.

Under the bond indenture, the bonds have a coupon adjustment option and put option at the end of the first and second years of issue.

During the period for registration of resale from Feb. 24 to Feb. 28, bondholders registered for resale 6,924,070 bonds at a resale price of RMB 100 each. The bonds were repurchased on April 11 and resold from April 11 to May 11, according to the announcement published on Friday.

The company also announced that the annual coupon rate of the bonds was adjusted April 9 to 6½%.

Agile Property is a Hong Kong-based land development company.

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