Hysan Development seeks to buy $100 million subordinated securities

Chicago, April 8 – Hysan Development Co. Ltd. started a tender offer to buy up to $100 million principal amount of its $850 million of outstanding subordinated guaranteed perpetual capital securities (ISIN: XS2123115029), according to an offering document.

The company is offering $922.50 per $1,000 note. The company will also pay accrued distributions through the settlement date.

Tenders may be subject to proration.

The offer will expire at 11 a.m. ET on April 16.

Results will be announced on April 17.

Settlement is expected on April 19.

Funding will come from the offeror’s operating cash and existing cash on the balance sheet.

J.P. Morgan Securities (Asia Pacific) Ltd. (+852 2800 7632, Liability_Management_HK@jpmorgan.com), Standard Chartered Bank (Hong Kong) Ltd. (+852 3983 8657, GCMLiabilityManagement@sc.com) and UBS AG Hong Kong Branch (+852 2971 8358, ol-liabilitymanagement-asia@ubs.com) are the joint dealer managers.

D.F. King & Co., Inc. is the information and tender agent for the offer (+44 20 7920 9700, +852 3953 7208, Hysan@dfking.com).

The property developer is based in Hong Kong.

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