TPHL 6.250% 23Jan2020 Corp (USD)

Bond Factsheet

Matured/ Called

Times China Holdings Limited

Indicative

Full Lot

Bid Price

99.925

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.200

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 23 Jan 2020, 12:00am

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Bond Information

Times China Holdings Limited operates as a real estate development company. The Company develops and markets residential areas, office buildings, hotels, restaurants, and other related areas. Times China Holdings markets its buildings throughout China.

Bond Issuer

Times China Holdings Limited

Guarantor

Subsidiaries

Announcement Date

16 Jan 2017

Issue Date

23 Jan 2017

Maturity Date

23 Jan 2020

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.250

Coupon Type

Fixed

Annual Coupon Rate

6.250

Coupon Frequency

Semi Annually

Seniority

First Lien

Reference Rate

ISIN

XS1549245238

CUSIP

AM1708396

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

375,000,000

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)

***/ BB-

Bond Credit Rating (S&P/ Fitch)

***/ BB-

Shariah Compliant

Exchange Listed

HKEX

Bond Feature(s)

Issuer Call

On or after [TBD], the Company may on any one or more occasions redeem all or any part of the Notes, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes redeemed, to (but not including) the applicable date of redemption, if redeemed during the twelve-month period beginning on of the years indicated below:

Period	Redemption Price
[Year2]	[TBD]%
[Year3] and thereafter	[TBD]%

Make Whole Call

At any time prior to [TBD], the Company 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 redeemed 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 of the Agents shall be responsible for calculating or verifying the Applicable Premium.

"Applicable Premium" means with respect to any 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 [TBD] (such redemption price being set forth in the table appearing under the section entitled "Optional Redemption" section exclusive of any accrued interest), plus (y) all required remaining scheduled interest payments due on such Note through , 20 (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

Not later than 30 days following a Change of Control Triggering Event, the Company will make an Offer to Purchase all outstanding Notes (a "Change of Control Offer") at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to (but not including) the Offer to Purchase Payment Date.

Equity Call

At any time and from time to time prior to [TBD] , the Company 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 Company in an Equity Offering at a redemption price of [TBD]% of the principal amount of the Notes redeemed, 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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