GRNCH 4.700% 29Apr2025 Corp (USD)

Bond Factsheet

Matured/ Called

Greentown China Holdings Limited

Indicative

Full Lot

Bid Price

99.375

Change in Bid Price

remove 0.618

Bid Yield (%)

Change in Bid Yield

Ask Price

99.875

Change in Ask Price

remove 0.120

Ask Yield (%)

Change in Ask Yield

Indicative price as of 29 Apr 2025, 12:00am

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Bond Information

Greentown China Holdings Ltd. operates as a property developer and integrated living service provider. The Company engaged in property and town development, construction management, asset operation, and living services with focuses on first and second tier cities, as well as quality third and fourth tier cities.

Bond Issuer

Greentown China Holdings Limited

Guarantor

Subsidiaries

Announcement Date

21 Oct 2020

Issue Date

29 Oct 2020

Maturity Date

29 Apr 2025

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.700

Coupon Type

Fixed

Annual Coupon Rate

4.700

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

XS2247552446

CUSIP

BM0544734

Bond Currency

USD

Total Issue Size

450,000,000

Outstanding Issue Size

134,313,000

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

HKEX

Bond Feature(s)

Issuer Call

At any time and from time to time on or after April 29, 2023, the Company may at its option 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 April 29 of each of the years indicated below.

Period	Redemption Price
2023	102.350%
2024 and thereafter	101.175%

Make Whole Call

At any time prior to April 29, 2023, the Company may at its option redeem the Notes, in whole but not in part, at a redemption price equal to 100.0% 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. The Company will give not less than 30 days’ nor more than 60 days’ notice of any redemption to the Holders and the Trustee. Neither the Trustee nor the Paying Agent 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 on April 29, 2023 (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 April 29, 2023 (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. The Applicable Premium shall be calculated by the Company and notified in writing to the Trustee and Principal Paying and Transfer Agent.

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 101.0% 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 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;

(2) the CCCG Permitted Holders are the beneficial owners of less than 25.0% 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 U.S. Exchange Act) is or becomes the "beneficial owner" (as such term is used in Rule 13d-3 of the U.S. 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 CCCG 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 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 members of the Board of Directors then in office;

(5) the number of individuals nominated by the CCCG Permitted Holders (and approved by the Board of Directors) as members of the Board of Directors constitute less than 40.0% of the total number of executive directors in the Board of Directors; or

(6) 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 one Rating Agency, a Rating Decline.

Equity Call

At any time and from time to time prior to April 29, 2023, the Company may redeem up to 35.0% 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 104.70% 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 65.0% of the aggregate principal amount of the Notes issued under the Indenture 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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