Gelonghui, March 21丨H&H International Holdings (01112.HK) announced that on March 20, 2024, the company and the joint lead manager signed a subscription agreement to issue RMB 500 million of 7.5% secured bonds due in 2027. The bonds were unconditionally and irrevocably guaranteed by several of the company's existing subsidiaries. The bonds will not be listed on any stock exchange. Bonds will not be rated.
According to this sale, the total proceeds from the bonds proposed for sale will be approximately RMB 500 million (before deducting underwriting discounts and other fees and expenses). The company intends to use the net proceeds of the bonds (that is, the total amount of proceeds less underwriting discounts and other fees and expenses) to repay the company's existing foreign debts, and will only sell them to investors outside the US through foreign transactions in accordance with Regulation S of the Securities Act.