CSIPRO 4.875% 08Aug2021 Corp (USD)

Bond Factsheet

Matured/ Called

Estate Sky Limited

Indicative

Full Lot

Bid Price

99.501

Change in Bid Price

remove 0.011

Bid Yield (%)

92.919 %

Change in Bid Yield

30.672

Ask Price

99.919

Change in Ask Price

0.023

Ask Yield (%)

19.012 %

Change in Ask Yield

2.046

Indicative price as of 06 Aug 2021, 12:00am

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Bond Information

Estate Sky Limited owns and operates as a real estate company.

Bond Issuer

Estate Sky Limited

Guarantor

CSI Properties Ltd

Announcement Date

01 Aug 2016

Issue Date

08 Aug 2016

Maturity Date

08 Aug 2021

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.875

Coupon Type

Fixed

Annual Coupon Rate

4.875

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

XS1464801957

CUSIP

QZ0914981

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

250,000,000

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)

***/ N.R

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Make Whole Call

The Issuer may, at any time, on giving not less than 30 days' nor more than 60 days' notice to the Noteholders, the Registrar and the Fiscal Agent (which shall be irrevocable), redeem the Notes, in whole, but not in part, at their Make Whole Redemption Price, together with interest accrued to the date fixed for redemption.

"Make Whole Redemption Price" means in respect of each Note, (a) the principal amount of such Note or, if higher (b) the amount equal to the sum of the present value of the principal amount of such Note, together with the present values of the interest payable for the relevant Interest Periods from the relevant date fixed for redemption to the Maturity Date, in each case, discounted to such redemption date on a semi-annual compounded basis (assuming a 360-day year consisting of 12 months of 30 days each and, in the case of an incomplete month, the actual number of days lapsed) at the adjusted U.S. Treasury Rate plus 0.50 per cent., all as determined by the Determination Agent

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 101 per cent. of their principal amount, together with accrued interest to, but excluding the Change of Control Put Date.

A "Change of Control" occurs when either:

(i) the Controlling Shareholder:

(A) ceases to hold, directly or indirectly, at least 30 per cent. of the voting rights of the issued share capital of the Guarantor (except for the 14 calendar day period immediately following any temporary disposal of shares of the Guarantor by the Controlling Shareholder in connection with a private placement of the existing shares of the Guarantor where there is a top-up placing by way of an issue of new shares of the Guarantor to the Controlling Shareholder within 14 calendar days from the date of the relevant placing agreement and the amount of such new shares of the Guarantor to be issued is equal to the amount of shares of the Guarantor disposed by the Controlling Shareholder and no net disposal proceeds are received by the Controlling Shareholder after such top-up placing); or

(B) ceases to be the largest single shareholder of the Guarantor; or

(ii) the Guarantor consolidates with or merges into or sells or transfers all or substantially all of its assets to any other Person other than the Controlling Shareholder, unless the consolidation, merger, sale or transfer will result in the Controlling Shareholder:

(A) holding, directly or indirectly, at least 30 per cent. of the voting rights of the issued share capital of the Guarantor (in the case of a consolidation or merger) or the successor entity (in the case of a sale or transfer); and

(B) being the largest single shareholder of the Guarantor (in the case of a consolidation or merger) or the successor entity (in the case of a sale or transfer).

"Controlling Shareholder" means the aggregate shareholdings of Mr. Chung Cho Yee, Mico ("Mr. Chung") and:

(i) any heir, estate, lineal descendent (or spouse thereof), spouse or parent of Mr. Chung and/or any of their associated companies (as defined in the Listing Rules of the Stock Exchange of Hong Kong Limited); or

(ii) any trust, corporation, partnership or other entity, of which the direct or indirect beneficiaries, equity holders, partners, owners or Persons are, or are controlled by, Mr. Chung and/or such other Persons referred to in paragraph (i) above.

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