TPHL 5.750% 14Jan2027 Corp (USD)

Bond Factsheet

Trading without Accrued Interest

Matured/ Called

Times China Holdings Limited

Indicative

Full Lot

Bid Price

3.000

Change in Bid Price

Bid Yield (%)

857.540 %

Change in Bid Yield

4.624

Ask Price

3.700

Change in Ask Price

Ask Yield (%)

757.282 %

Change in Ask Yield

3.937

Indicative price as of 23 Dec 2025, 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

07 Jan 2021

Issue Date

14 Jan 2021

Maturity Date

14 Jan 2027

Years to Maturity / Next Call

0.279 / 0.079

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

First Lien

Reference Rate

Accrued Interest

Trading without

ISIN

XS2282068142

CUSIP

BN3850672

Bond Currency

USD

Total Issue Size

350,000,000

Outstanding Issue Size

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)

***/ W.R

Bond Credit Rating (S&P/ Fitch)

***/ W.R

Shariah Compliant

Exchange Listed

HKEX

Bond Feature(s)

Issuer Call

At any time and from time to time on after January 14, 2025, the Company may at its option redeem the Notes, in whole or in part, at a redemption price equal to 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 July 8 of the years indicated below:

Period	Redemption Price
2025	102%
2026	101%

Make Whole Call

At any time prior to January 14, 2025, 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 Notes at January 14, 2025 (such redemption price being set forth in the third paragraph of the "- Optional Redemption" section exclusive of any accrued interest), plus (y) all required remaining scheduled interest payments due on such Note through January 14, 2025 (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.

"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 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 Permitted Holders;

(4) individuals who on the Original Issue Date constituted the board of directors of the Company, 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 Company 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 one Rating Agency, a Rating Decline.

Equity Call

At any time and from time to time prior to January 14, 2025, 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 105.75% 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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