DALWAN 7.250% 29Dec2024 Corp (USD)

Bond Factsheet

Matured/ Called

Wanda Properties International Co Ltd (Keepwell: Dalian Wanda Commercial Management Group Co., Ltd.)

Indicative

Full Lot

Bid Price

99.550

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

99.750

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 27 Dec 2024, 12:00am

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Bond Information

Wanda Properties International Co. Limited provides real estate services. The Company owns, operates, and develops real properties. Wanda Properties International serves customers in China.

Bond Issuer

Wanda Properties International Co Ltd (Keepwell: Dalian Wanda Commercial Management Group Co., Ltd.)

Guarantor

Parent & Subsidiaries

Announcement Date

23 Jan 2014

Issue Date

29 Jan 2014

Maturity Date

29 Dec 2024

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

99.036

Issue / Reoffer Yield

7.393

Coupon Type

Fixed

Annual Coupon Rate

7.250

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

XS1023280271

CUSIP

EK0434986

Bond Currency

USD

Total Issue Size

600,000,000

Outstanding Issue Size

240,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Real Estate Management and Development

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ CC

Shariah Compliant

Exchange Listed

HKEX

Current Principal Factor Rate

0.4

Bond Feature(s)

Issuer Call

On giving not less than seven nor more than 42 days’ notice (an “Optional Redemption Notice”) to the Trustee and the Bondholders in accordance with Condition 16, the Issuer may at any time and from time to time redeem the Bonds, in whole or in part, at their principal amount, together with interest accrued to but excluding the redemption date specified in the Optional Redemption Notice.

In the case of a partial redemption, the Bonds shall be redeemed (i) on a pro rata basis or (ii) by such other method and in such place as the Trustee deems fair and appropriate in its sole and absolute discretion, unless otherwise required by law.

Callable on and anytime after 18 Dec 2023 @ 100.

Mandatory Redemption

Unless previously redeemed or purchased and cancelled, on each redemption date set out below (each a “Mandatory Redemption Date”), the Issuer shall redeem a principal amount of Bonds set out below (each a “Mandatory Redemption Amount”) at par on a pro rata basis (together with interest accrued on such Mandatory Redemption Amount to but excluding such Mandatory Redemption Date). The outstanding principal amount of each such Bond shall be reduced accordingly for all purposes with effect from the relevant Mandatory Redemption Date, unless payment of such Mandatory Redemption Amount is improperly withheld or refused, in which case, such amount shall remain outstanding until the Relevant Date (as defined in Condition 8) relating to such Mandatory Redemption Amount.

Mandatory Redemption Date	Amount to be redeemed
January 5, 2024	10 per cent. of the Effective Principal Amount
May 29, 2024	20 per cent. of the Effective Principal Amount
September 29, 2024	30 per cent. of the Effective Principal Amount

Make Whole Call

On giving not less than 30 nor more than 60 days notice (an "Optional Redemption Notice") to the Trustee and the Bondholders in accordance with Condition 16, the Issuer may at any time and from time to time redeem the Bonds, in whole but not in part, at a Make Whole Price as of, and accrued and unpaid interest, if any, to (but excluding), the redemption date (the "Option Redemption Date") specified in the Option Redemption Notice

" Make Whole Price" means, with respect to a Bond at any redemption date, the amount calculated by the Quotation Agent that is the greater of (1) the present value of the principal amount of the Bonds, assuming a scheduled repayment thereof on the Maturity Date plus all required remaining scheduled interest payments due on such Bond through January 29, 2024 (but excluding accrued and unpaid interest to the Option Redemption Date), computed using a discount rate equal to the Adjusted Treasury Rate plus 50 basis points, and (2) the principal amount of such Bonds

Change Control Put

At any time following the occurrence of a Put Event, the holder of any Bond will have the right, at such holder’s option, to require the Issuer to redeem all but not some only of that holder’s Bonds on the Put Settlement Date at 101 per cent. of their principal amount, together with accrued interest to, such Put Settlement Date.

A “Put Event” will be deemed to occur if there is a Change of Control Event.

A "Change of Control Event" occurs when:

(i) Mr. WANG Jianlin ceases to Control the Company;

(ii) Wanda HK ceases to be a directly or indirectly wholly-owned Subsidiary of the Company; or

(iii) the Issuer cases to be a directly or indirectly wholly-owned Subsidiary of Wanda HK;

“Control” means (where applicable): (i) the ownership, acquisition or control of more than 50 per cent. of the voting rights of the issued share capital of a person or (ii) the right to appoint and/or remove all or the majority of the members of a person’s board of directors or other governing body, whether obtained directly or indirectly, and whether obtained by ownership of share capital, the possession of voting rights, contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing;

Extendable Tenor

Extending the maturity date of the Bonds by 11 months to 29 December 2024;(Announcement of the Invitation by Wanda Properties International Co. Limited dated 21 November 2023)

Keepwell Deed

Under the Keepwell Deed, the Company will undertake with the Issuer, Wanda HK and the Trustee that it shall, directly or indirectly, own and hold all the outstanding shares of each of the Issuer and Wanda HK and will not directly or indirectly pledge, grant a security interest, or in any way encumber or otherwise dispose of any such shares.

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