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    1622   KYG733101318

REDCO PROPERTIES GROUP LIMITED

(1622)
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Redco Properties Group Limited Announces Issuance of Additional USD 100.8 Million 11.0% Senior Notes Due 2022

07/19/2021 | 06:06pm EDT

On 19 July 2021, Redco Properties Group Limited, together with the Subsidiary Guarantors, entered into the Purchase Agreement with Credit Suisse and Standard Chartered Bank in connection with the Additional Notes Issue. The Additional Notes have not been, and will not be, registered under the Securities Act. The Additional Notes will only be offered outside the United States in offshore transactions in compliance with Regulation S under the Securities Act, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. None of the Additional Notes will be offered to the public in Hong Kong. The following is a summary of certain provisions of the Additional Notes and the Indenture. This summary does not purport to be complete and is qualified in its entirety by reference to the provisions of the Indenture, the Additional Notes, the guarantees provided by the Subsidiary Guarantors, and the JV Subsidiary Guarantors, if any. Subject to certain conditions to completion, the Company will issue the Additional Notes in the aggregate principal amount of USD 100.8 million. The Additional Notes will mature on 6 August 2022 unless earlier redeemed in accordance with the terms thereof. The issue price of the Additional Notes will be 100.945% of the principal amount of the Additional Notes, plus accrued interest from (and including) 6 February 2021 to (but excluding) 27 July 2021. The Additional Notes will bear interest from and including 6 August 2021 at the rate of 11.0% per annum, payable semi-annually in arrears on 6 February and 6 August every year, commencing 6 August 2021. The Group is an integrated property developer focusing on mid-to-high-end residential and commercial property development in the PRC. The Company intends to use the net proceeds of the Additional Notes Issue to refinance certain of its existing medium to long term offshore indebtedness which will become due within one year and in accordance with the Company's Sustainable Finance Framework.


ę S&P Capital IQ 2021
Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG 2.46% 9.42 Delayed Quote.-17.37%
REDCO PROPERTIES GROUP LIMITED -1.20% 2.46 End-of-day quote.-15.17%
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More news
Financials
Sales 2021 19 061 M 2 952 M 2 952 M
Net income 2021 2 149 M 333 M 333 M
Net Debt 2021 - - -
P/E ratio 2021 3,42x
Yield 2021 -
Capitalization 7 247 M 1 122 M 1 123 M
Capi. / Sales 2021 0,38x
Capi. / Sales 2022 0,29x
Nbr of Employees 3 780
Free-Float 22,7%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 2,46 HKD
Average target price 3,17 HKD
Spread / Average Target 28,9%
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Managers and Directors
Ruo Qing Huang President & Executive Director
Yeuk Hung Wong Chairman
On Ta Yuen Chau Independent Non-Executive Director
Tai Him Yip Independent Non-Executive Director
Kam Kau Tam Independent Non-Executive Director