Jingye Mingbang Group (02231) announced that on December 20, 2023, the company initiated an exchange offer for 9.5% senior notes (ISIN number: XS2560991015; generic code: 256099101; stock code: 5677) due 2024 that have not yet been repaid. On December 20, 2023, the company will launch an exchange offer for existing notes held by non-US persons located outside the US. An exchange offer j is made in accordance with the terms contained in the Memorandum of Exchange Offer and subject to its terms and conditions.
The company has appointed Haitong International as the transaction manager for the exchange of offers. The company has also commissioned D.F. King is the data and exchange agent. For a detailed description of the terms and conditions of the exchange offer, eligible holders should refer to the Exchange Offer Memorandum.
The term of the new notes is expected to be 364 days, and the new notes will accrue interest at an interest rate of 9.5% per year.