Successfully issued the second tranche of domestic
corporate bonds
Strengthen
the debt structure and lower the financing costs
HONG KONG SAR - Media
OutReach - 21 July 2021 - CIFI Holdings (Group) Co. Ltd. ("CIFI" or the "Group",
HKEx stock code: 884), a leading real estate developer engaging in property
development and investment in first-, second- and robust third-tier cities in
China, is pleased to announce that from 8 July 2021 to 20 July 2021, its major
shareholders Lin's Family increased their shareholdings again, of which Executive
Directors and controlling shareholders, Mr. Lin Zhong, Mr. Lin Wei and Mr. Lin
Feng, had purchased an aggregate of 15,102,000 shares of CIFI at a total
consideration of approximately HK$80.65 million. Executive Director and CFO, Mr. Yang Xin and his spouse also purchased
1,000,000 shares on 20 July 2021.
Immediately after the purchase, Lin's Family owns 4,511,682,342
shares, representing approximately 54.58% of the total issued share capital of CIFI
as 20 July 2021.
In addition, the Group successfully completed the public issuance of the
second tranche of the domestic corporate bonds on 20 July 2021. The actual size
of the bonds is RMB3.0 billion with a coupon rate of 4.2% per annum and the
maturity is five years, with an option for the Issuer to adjust the coupon rate
and a put option for investors at the end of the third year. The price of the domestic
corporate bond is at the lowest since 2021 for private real estate developers with
the same maturity and the issue size of more than RMB3.0 billion. The total bids
are RMB4.79 billion with over 1.6 times subscriptions. Among them, non-bank
institutions actively subscribed and the final coupon rate was 4.2 %.
The spokesperson of CIFI said, "The increase in shareholding by the controlling
shareholders and management reflects their strong confidence in CIFI's
long-term development and room for future increase in stock price. In addition,
facing the severe macroeconomic situation and volatility in risk appetite in
the capital market, with the strive of the corporate team, coupled with the support
of managements, they created excellent results in the open market. Looking ahead,
CIFI will continue to lower the overall financing costs and strengthen the debt
structure to implement prudent financial management and consolidate the leading
position in the Chinese property market and generate encouraging return to our
shareholders."
The issuer is solely responsible for the content of this announcement.