REGH 3.875% 20Jul2021 Corp (USD)

Bond Factsheet

Matured/ Called

RH International Finance Ltd

Indicative

Full Lot

Bid Price

99.336

Change in Bid Price

2.336

Bid Yield (%)

239.886 %

Change in Bid Yield

remove 37.051

Ask Price

99.767

Change in Ask Price

0.767

Ask Yield (%)

86.293 %

Change in Ask Yield

remove 6.749

Indicative price as of 19 Jul 2021, 12:00am

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Bond Information

RH International Finance Limited operates as a special purpose entity. The Company was formed for the purpose of issuing debt securities to repay existing credit facilities, refinance indebtedness, and for acquisition purposes.

Bond Issuer

RH International Finance Ltd

Guarantor

Regal Hotels International Holdings Ltd

Announcement Date

13 Jul 2016

Issue Date

20 Jul 2016

Maturity Date

20 Jul 2021

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

99.663

Issue / Reoffer Yield

4.098

Coupon Type

Fixed

Annual Coupon Rate

3.875

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

XS1452546556

CUSIP

LW8329598

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

350,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Consumer Discretionary

Bond Sub Sector

Hotels Restaurants and Leisure

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

HKEX

Bond Feature(s)

Change Control Put

At any time following the occurrence of a Change of Control, the holder of any Note will have the right, at such holder's option, to require the Issuer to redeem all but not some only of that holder's Notes on the Change of Control Put Date at the relevant Early Redemption Amount (Change of Control), together with accrued interest up to, but excluding the Change of Control Put Date.

a "Change of Control" occurs when:
(i) the Controlling Shareholder ceases to hold, directly or indirectly, at least 35 per cent. of the voting rights of the issued share capital of the Guarantor; or
(ii) any Person or Persons, other than the Controlling Shareholder, acting together acquires Control of the Guarantor if such Person or Persons does not or do not have, and would not be deemed to have, Control of the Guarantor on the Issue Date; or
(iii) the Guarantor consolidates with or merges into or sells or transfers all or substantially all of its assets to any other Person, unless the consolidation, merger, sale or transfer will not result in the other Person or Persons acquiring Control over the Guarantor or the successor entity.

"Control" means the acquisition or control of more than 50 per cent. of the voting rights of the issued share capital of the Guarantor or the right to appoint and/or remove all or the majority of the members of the Guarantor'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" (other than the "Controlling Shareholder") and "Controlled" shall have meanings correlative to the foregoing.

"Controlling Shareholder" means the aggregate shareholdings of Mr. Lo Yuk Sui and:
(i) any heir, estate, lineal descendent (or spouse thereof), spouse or parent of Mr. Lo Yuk Sui; or
(ii) any trust, corporation, partnership or other entity, of which the direct or indirect beneficiaries, equity holders, partners or owners are Mr. Lo Yuk Sui and/or such other Persons referred to in paragraph (i) above.

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