FWDGHD 5.750% 09Jul2024 Corp (USD)

Bond Factsheet

Matured/ Called

FWD Group Holdings Limited

Indicative

Full Lot

Bid Price

99.900

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.000

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 10 Jul 2024, 12:00am

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Bond Information

FWD Group Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides life, health, and other insurance products. FWD Group Holdings serves customers in Hong Kong, Macau, Thailand, Japan, and other South East Asia countries including the Philippines, Indonesia, Singapore, Vietnam, Malaysia, and Cambodia.

Bond Issuer

FWD Group Holdings Limited

Guarantor

Announcement Date

04 Jul 2019

Issue Date

09 Jul 2019

Maturity Date

09 Jul 2024

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

5.750

Coupon Type

Fixed

Annual Coupon Rate

5.750

Coupon Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

ISIN

XS2022434364

CUSIP

AZ5273562

Bond Currency

USD

Total Issue Size

900,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Insurance

Issuer Credit Rating (S&P/ Fitch)

***/ BBB+

Bond Credit Rating (S&P/ Fitch)

***/ BBB-

Shariah Compliant

Exchange Listed

HKEX

Bond Feature(s)

Coupon Step

Upon the occurrence of a Change of Control (as defined in Condition 6(c) (Redemption-Redemption upon a Change of Control)), unless an irrevocable notice to redeem the Notes has been given to Holders by the Issuer pursuant to Condition 6(c) (Redemption-Redemption upon a Change of Control) by the 30th day following the occurrence of the Change of Control, the Rate of Interest will increase to the aggregate of 5.00 per cent. per annum and the Rate of Interest, with effect from (i) the next Interest Payment Date; or (ii) if the date on which a Change of Control occurs is prior to the most recent preceding Interest Payment Date, such Interest Payment Date.

a "Change of Control" occurs when:

(a) Mr. Richard Li or any Affiliate ceases to Control the Issuer;

(b) any Person or Persons, other than Mr. Richard Li or any Affiliate, acting together acquires Control of the Issuer; or

(c) the Issuer 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 Issuer or the successor entity; and "Control" means the acquisition or control of more than 50 per cent, of the voting rights of the issued share capital of the Issuer or the right to appoint and/or remove all or the majority of the members of the Issuer's board of directors or other governing body, whether held or obtained directly or indirectly, and whether held or obtained by ownership of share capital, the possession of voting rights, contract or otherwise and the terms "Controlling" and "Controlled" shall have meanings correlative to the foregoing.

Change Control Call

The Notes may be redeemed at the option of the Issuer in whole, but not in part, at any time, on giving not less than 30 nor more than 60 days' notice to the Holders (which notice shall be irrevocable), the Registrar and the Fiscal Agent upon the occurrence of a Change of Control at 101 per cent. of the outstanding principal amount of the Notes, together with any interest accrued but unpaid to the date fixed for redemption.

a "Change of Control" occurs when:

(a) Mr. Richard Li or any Affiliate ceases to Control the Issuer;

(b) any Person or Persons, other than Mr. Richard Li or any Affiliate, acting together acquires Control of the Issuer; or

(c) the Issuer 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 Issuer or the successor entity; and "Control" means the acquisition or control of more than 50 per cent, of the voting rights of the issued share capital of the Issuer or the right to appoint and/or remove all or the majority of the members of the Issuer's board of directors or other governing body, whether held or obtained directly or indirectly, and whether held or obtained by ownership of share capital, the possession of voting rights, contract or otherwise and the terms "Controlling" and "Controlled" shall have meanings correlative to the foregoing.

Additional Note

Redemption upon an initial public offering

The Notes may be redeemed at the option of the Issuer in whole, but not in part, at any time, on giving not less than 30 nor more than 60 days' notice to the Holders (which notice shall be irrevocable), the Registrar and the Fiscal Agent, at 101 per cent. of the outstanding principal amount of the Notes, together with any interest accrued but unpaid to the date fixed for redemption, if an Initial Public Offering has occurred.

In this Condition 6(d) (Redemption upon an initial public offering): "Initial Public Offering" means the first offering and listing of shares of a holding company of the Issuer, that complies with the rules of The Stock Exchange of Hong Kong Limited or any other internationally recognised stock exchange, provided that such offer of securities is for subscription or sale exclusively for cash, accompanied (or preceded) by the grant of listing of, and permission to deal, in such shares by The Stock Exchange of Hong Kong Limited or any other internationally recognised stock exchange.

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