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CIFI Holdings Group Co Ltd Issuance Of Additional USD225 Million 12.25% Senior Notes Due 2018


Wednesday, 11 Sep 2013 07:46pm EDT 

CIFI Holdings Group Co Ltd announced that on September 11, 2013, the Company and the Subsidiary Guarantors entered into the Purchase Agreement with Citigroup, Standard Chartered Bank, Deutsche Bank, HSBC and Haitong International in connection with the issuance of the Additional Notes. On the same date, the Company and the Subsidiary Guarantors entered into the Subscription Agreement with Dalvey Asset in connection with the issuance of the Subscription Notes. The estimated net proceeds of the Additional Notes Issue and the Subscription Notes Issue, after deduction of the underwriting discounts and commissions, arrangement and settlement fee, other estimated expenses and accrued interest on the Additional Notes and Subscription Notes, will amount to approximately USD230 million and the Company intends to use the net proceeds for refinancing its existing indebtedness, the acquisition of new projects or land for development and development of existing projects in the PRC, and/or general corporate purposes. The Company may adjust the foregoing plans in response to changing market conditions and, thus, reallocate the use of the proceeds. 

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