Yuandong Hongxin (03360) announced that on April 9, 2024, the company signed a subscription agreement with the joint lead manager to withdraw under the plan (the company's US$4 billion medium-term notes and perpetual securities plan), and to sell and issue withdrawal notes with a total face value of US$500 million on April 16, 2024. Withdrawal notes are exempt from compliance with registration requirements under the Securities Law. Withdrawal notes are denominated in dollars.
According to Standard & Poor's, withdrawal notes are expected to be rated BBB-. This rating of a bill of withdrawal does not constitute a recommendation to buy, sell, or hold a bill of withdrawal, and Standard & Poor's may revise or withdraw this rating at any time. This rating should be assessed independently of any other rating of the company's other securities or the company's rating.