CKINF 5.875% Perpetual Corp (USD)

Bond Factsheet

Matured/ Called

OVPH Ltd

Indicative

Full Lot

Bid Price

99.500

Change in Bid Price

remove 0.250

Bid Yield (%)

Change in Bid Yield

Ask Price

100.500

Change in Ask Price

remove 0.250

Ask Yield (%)

Change in Ask Yield

Indicative price as of 12 Oct 2021, 12:00am

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Bond Information

OVPH Limited operates as a special purpose entity. The Company manages utility networks.

Bond Issuer

OVPH Ltd

Guarantor

CK Infrastructure Holdings Ltd

Announcement Date

22 Feb 2016

Issue Date

01 Mar 2016

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.402

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

5.875

Coupon Type

Fixed

Annual Coupon Rate

5.875

Coupon Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

ISIN

XS1366918305

CUSIP

JK2151823

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

1,200,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

Corporate

Bond Sector

Utilities

Bond Sub Sector

Electric Utilities

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

HKEX

Bond Feature(s)

Deferral Interest Payment

Optional Deferral of Interest

The Issuer may, at its sole discretion, elect to defer Distribution which is otherwise scheduled to be paid on a Distribution Payment Date to the next Distribution Payment Date by giving notice (an "Optional Deferral Notice") to the Holders not more than 10 nor less than five Business Days prior to a scheduled Distribution Payment Date if, during the three months ending on the day before that scheduled Distribution Payment Date no dividend, distribution or other payment has been paid or declared by the Guarantor on or in respect of its Junior Securities or its Parity Securities (except (i) in relation to Parity Securities of the Guarantor, on a pro-rata basis, or (ii) in connection with any employee benefit plan or similar arrangements with or for the benefit of employees, officers, directors or consultants)(an "Optional Deferral Event").

Cumulative Deferral of Interest

Any Distribution deferred shall constitute "Arrears of Distribution". The Issuer may, at its sole discretion, elect to further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued Distribution. The Issuer is not subject to any limit as to the number of times Distributions and Arrears of Distribution can or shall be deferred except that Condition 4(c)(v) shall be complied with until all outstanding Arrears of Distribution have been paid in full.

Extracted from Preliminary Offering Circular dated 22 February 2016

Issuer Call

The Securities may be redeemed at the option of the Issuer in whole, but not in part, on the Distribution Payment Date falling in 2021 or on any Distribution Payment Date thereafter on the Issuer's giving not less than 30 nor more than 60 days' notice to the Holders (which notice shall be irrevocable and shall oblige the Issuer to redeem the Securities on the relevant Call Settlement Date at their principal amount plus Distribution accrued to such date (including any Arrears of Distribution and any Additional Distribution Amount)).

Extracted from Preliminary Offering Circular dated 22 February 2016

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