SHIMAO 3.975% 16Sep2023 Corp (USD)

Bond Factsheet

Trading without Accrued Interest

Matured/ Called

Shimao Group Holdings Limited

Indicative

Full Lot

Bid Price

4.000

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

5.000

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 16 Feb 2026, 12:00am

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Bond Information

Shimao Group Holdings 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. Shimao Property Holdings also provides property management services.

Bond Issuer

Shimao Group Holdings Limited

Guarantor

Announcement Date

13 Sep 2021

Issue Date

16 Sep 2021

Maturity Date

16 Sep 2023

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

3.975

Coupon Type

Fixed

Annual Coupon Rate

3.975

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

Accrued Interest

Trading without

ISIN

XS2385392779

CUSIP

BR4151774

Bond Currency

USD

Total Issue Size

300,000,000

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

SGX

Bond Feature(s)

Make Whole Call

At any time prior to September 16, 2023, the Company may at its option redeem the Notes, in whole or in part, at a redemption price equal to the greater of (x) 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest on the Notes to be redeemed, if any, to the date of redemption and (y) the Make Whole Price.

“Make Whole Price” means, with respect to a Note at any redemption date, the sum of (i) the present value of the principal amount of such Note, assuming a scheduled repayment thereof on the Maturity Date, plus (ii) the present value of the remaining scheduled payments of interest to and including the Maturity Date, in each case discounted to the redemption date at the Adjusted Treasury Rate plus 50 basis points.

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 direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries, taken as a whole, to any “person” (within the meaning of Section 13(d) of the Exchange Act), other than one or more Permitted Holders;

(2) the Company consolidates with, or merges with or into, any Person (other than one or more Permitted Holders), or any Person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the Voting Stock of the Company outstanding immediately prior to such transaction is converted into or exchanged for (or continues as) Voting Stock (other than Disqualified Stock) of the surviving or transferee Person constituting a majority of the outstanding shares of Voting Stock of such surviving or transferee Person (immediately after giving effect to such issuance) and in substantially the same proportion as before the transaction;

(3) the Permitted Holders are the beneficial owners of less than 35% of the total voting power of the Voting Stock of the Company;

(4) 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;

(5) individuals who on the Original Issue Date constituted the board of directors of the Company, together with any new directors whose nomination for election by the shareholders of the Company was approved by a vote of at least two-thirds of the directors then still in office who were either directors on the Original Issue Date or whose nomination was previously so approved, cease for any reason to constitute a majority of the board of directors of the Company then in office; or

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

For the avoidance of doubt, for purposes of this definition, a sale of shares of Capital Stock of a Subsidiary which holds all or substantially all properties and assets of the Company to Independent Third Parties in an initial public offering and listing on a stock exchange of the shares of Capital Stock of such Subsidiary where such Subsidiary (i) remains a Subsidiary immediately after such sale and (ii) the Company immediately after such sale, directly or indirectly, owns at least 30.0% of the Voting Stock of such Subsidiary shall not constitute a sale of substantially all properties and assets 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 September 16, 2023, 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 103.975% 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 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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