SHUION 5.700% 06Feb2021 Corp (USD)

Bond Factsheet

Matured/ Called

Shui On Development (Holding) Limited

Indicative

Full Lot

Bid Price

100.070

Change in Bid Price

remove 0.002

Bid Yield (%)

-18.950 %

Change in Bid Yield

remove 11.894

Ask Price

100.343

Change in Ask Price

remove 0.001

Ask Yield (%)

-114.153 %

Change in Ask Yield

remove 59.657

Indicative price as of 05 Feb 2021, 12:00am

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Bond Information

Shui On Development (Holding) Limited provides real estate services. The Company offers property investment, management, and development services. Shui On Development (Holding) serves customers in China.

Bond Issuer

Shui On Development (Holding) Limited

Guarantor

Shui On Land Ltd

Announcement Date

23 Jan 2017

Issue Date

06 Feb 2017

Maturity Date

06 Feb 2021

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

99.384

Issue / Reoffer Yield

5.875

Coupon Type

Fixed

Annual Coupon Rate

5.700

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

XS1556042809

CUSIP

AM2472794

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

262,387,000

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

At any time prior to the maturity date of the Notes, the Issuer may at its option redeem the Notes, in whole or 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.

"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 principal amount of the Notes at the maturity date of the Notes, plus (y) all required remaining scheduled interest payments due on such Note through the maturity date of the Notes (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, the Issuer or the Parent Guarantor 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.

"Change of Control" means the occurrence of one or more of the following events:
(1) the merger, amalgamation or consolidation of the Parent Guarantor or the Issuer with or into another Person or the merger or amalgamation of another Person with or into the Parent Guarantor or the Issuer, or the sale of all or substantially all the assets of the Parent Guarantor or the Issuer to another Person;
(2) the Permitted Holders are the beneficial owners of less than 35.0% of the total voting power of the Voting Stock of the Parent Guarantor or the Issuer;
(3) 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 Issuer or the Parent Guarantor greater than such total voting power held beneficially by the Permitted Holders;
(4) individuals who on the Original Issue Date constituted the board of directors of the Parent Guarantor or the Issuer, as the case may be, together with any new directors whose election by the board of directors was approved by a vote of at least two-thirds 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 or the Issuer, as the case may be, then in office; or
(5) the adoption of a plan relating to the liquidation or dissolution of the Parent Guarantor or the Issuer.

Equity Call

At any time and from time to time prior to February 6, 2021 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 105.70% 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 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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