ZHLGHD 11.500% 26Sep2021 Corp (USD)

Bond Factsheet

Matured/ Called

Zhongliang Holdings Group Company Limited

Indicative

Full Lot

Bid Price

98.438

Change in Bid Price

remove 1.385

Bid Yield (%)

Change in Bid Yield

Ask Price

98.563

Change in Ask Price

remove 1.666

Ask Yield (%)

Change in Ask Yield

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

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Bond Information

Zhongliang Holdings Group Company Limited operates as a real estate development company. The Company develops and markets high-rise residential buildings, low-rise apartments, villas, commercial facilities, office buildings, and other related areas. Zhongliang Holdings Group provides property management services.

Bond Issuer

Zhongliang Holdings Group Company Limited

Guarantor

Subsidiaries

Announcement Date

19 Sep 2019

Issue Date

26 Sep 2019

Maturity Date

26 Sep 2021

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

99.134

Issue / Reoffer Yield

12.000

Coupon Type

Fixed

Annual Coupon Rate

11.500

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

XS2049640332

CUSIP

ZR6983954

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

395,000,000

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)

***/ B+

Bond Credit Rating (S&P/ Fitch)

***/ B+

Shariah Compliant

Exchange Listed

HKEX

Bond Feature(s)

Make Whole Call

At any time prior to September 26, 2021, 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 plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. Neither the Trustee nor the Paying Agent is 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 principal amount of such Note on September 26, 2021, plus (y) all required remaining scheduled interest payments due on such Note through September 26, 2021 (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 (see the definition of "Offer to Purchase").

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

(1) the merger, amalgamation or consolidation of the Company with or into another Person (other than one or more Permitted Holders) or the merger or amalgamation of another Person (other than one or more Permitted Holders) with or into the Company, or the sale of all or substantially all the assets of the Company to another Person (other than one or more Permitted Holders);

(2) the Permitted Holders are the beneficial owners of less than 50.1% of the total voting power of the Voting Stock of the Company;

(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 Company 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, together with any new directors whose election by the Board of Directors was approved by a vote of at least a 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 then in office; or

(5) the adoption of a plan relating to the liquidation or dissolution of the Company.

"Change of Control Triggering Event" means the occurrence of both a Change of Control and, provided that the Notes are rated by at least on Rating Agency, a Rating Decline.

Equity Call

At any time and from time to time prior to September 26, 2021, the Company may, at its option, 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 111.50% 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 (including the aggregate principal amount of any Additional Notes on the date on which such Additional Notes were issued) 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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