YLLGSP 5.875% 23Jan2022 Corp (USD)

Bond Factsheet

Matured/ Called

Yanlord Land (HK) Co., Limited

Indicative

Full Lot

Bid Price

101.200

Change in Bid Price

remove 0.125

Bid Yield (%)

Change in Bid Yield

Ask Price

101.550

Change in Ask Price

0.050

Ask Yield (%)

Change in Ask Yield

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

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Bond Information

Yanlord Land (HK) Co., Limited operates as a real estate developer. The Company provides residential development, commercial property development, house building, housing renovation, housing loans, property management, and other services. Yanlord Land (HK) conducts businesses in Hong Kong.

Bond Issuer

Yanlord Land (HK) Co., Limited

Guarantor

Multiple Guarantors

Announcement Date

16 Jan 2017

Issue Date

23 Jan 2017

Maturity Date

23 Jan 2022

Years to Maturity / Next Call

- / -

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

First Lien

Reference Rate

ISIN

XS1521768058

CUSIP

AM1710293

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

450,000,000

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)

Issuer Call

At any time and from time to time on or after January 23, 2020, the Issuer may redeem the Notes, in whole or in part, at a redemption price equal to the percentage of principal amount set forth below plus accrued and unpaid interest, if any, to (but not including) the redemption date if redeemed during the twelve-month period beginning on January 23 of each of the years indicated below.

Period	Redemption Price
2020	102.938%
2021 and thereafter	101.469%

Make Whole Call

At any time prior to January 23, 2020, the Issuer may at its option redeem the Notes, in whole but not in part, at a redemption price equal to 100% of the principal amount of the Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. Neither the Trustee nor any Agents shall be responsible for calculating or verifying the Applicable Premium.

''Applicable Premium'' means with respect to a Note at any redemption date, the greater of (1) 1.00% of the principal amount of such Note and (2) the excess of (A) the present value at such redemption date of (x) the redemption price of such Note at January 23, 2020 (such redemption price being set forth in the table appearing above under the caption "Optional Redemption''), plus (y) all required remaining scheduled interest payments due on such Note through January 23, 2020 (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate plus 100 basis points, over (B) the principal amount of such Note on such redemption date.

Change Control Put

Upon the occurrence of a Change of Control Triggering Event, the Issuer or the Company will make an offer to repurchase all outstanding Notes at a purchase price equal to 101% of their principal amount plus accrued and unpaid interest, if any, to the repurchase date.

''Change of Control'' means the occurrence of one or more of the following events:

(1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Parent Guarantor and its Restricted Subsidiaries, taken as a whole, to any ''person'' (within the meaning of Section 13(d) of the Exchange Act), other than one or more Permitted Holders unless holders of a majority of the aggregate voting power of the Voting Stock of the Parent Guarantor, immediately prior to such transaction, hold securities of the surviving or transferee Person that represent, immediately after such transaction, at least a majority of the aggregate voting power of the Voting Stock of the surviving or transferee person;
(2) the merger, amalgamation or consolidation of the Parent Guarantor with or into another Person or the merger or amalgamation of another Person with or into the Parent Guarantor, or the sale of all or substantially all the assets of the Parent Guarantor to another Person;
(3) the Permitted Holders are the beneficial owners within the meaning of Rule 13d-3 under the Exchange Act of less than 30% of the total voting power of the Voting Stock of the Parent Guarantor;
(4) any ''person'' or ''group'' (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the ''beneficial owner'' (as such term is used in Rule 13d-3 of the Exchange Act), directly or indirectly, of total voting power of the Voting Stock of the Parent Guarantor greater than such total voting power held beneficially by the Permitted Holders;
(5) individuals who on the Original Issue Date constituted the board of directors of the Parent Guarantor, together with any new directors whose election by the board of directors was approved by a vote of at least majority of the directors then still in office who were either directors or whose election was previously so approved, cease for any reason to constitute a majority of the board of directors of the Parent Guarantor then in office; or
(6) the adoption of a plan relating to the liquidation or dissolution of the Parent Guarantor.

"Change of Control Triggering Event" means the occurrence of both a Change of Control and a Rating Decline.

Equity Call

At any time prior to January 23, 2020, the Issuer may redeem up to 35% of the aggregate principal amount of the Notes with the Net Cash Proceeds of one or more sales of Common Stock of the Parent Guarantor in an Equity Offering at a redemption price of 105.875% of the principal amount of the Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date; provided that at least 65% of the aggregate principal amount of the Notes originally issued on the Original Issue Date remains outstanding after each such redemption and any such redemption takes place within 60 days after the closing of the related Equity Offering.

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