HONGQI 6.925% 29Nov2028 Corp (USD)

Bond Factsheet

China Hongqiao Group Limited

Indicative

Full Lot

Bid Price

101.467

Change in Bid Price

remove 0.041

Bid Yield (%)

6.179 %

Change in Bid Yield

0.019

Ask Price

102.067

Change in Ask Price

remove 0.041

Ask Yield (%)

5.881 %

Change in Ask Yield

0.019

Indicative price as of 02 Oct 2026, 4:33pm

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Bond Information

China Hongqiao Group Ltd. manufactures aluminum products. The Company's aluminum products consist of molten aluminum alloy, aluminum alloy ingots and aluminum busbars.

Bond Issuer

China Hongqiao Group Limited

Guarantor

Subsidiaries

Announcement Date

22 May 2025

Issue Date

29 May 2025

Maturity Date

29 Nov 2028

Years to Maturity / Next Call

2.152 / -

Modified Duration

1.931 @ 02 Oct 2026

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.925

Coupon Type

Fixed

Annual Coupon Rate

6.925

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

XS3084116055

CUSIP

YO7837272

Bond Currency

USD

Total Issue Size

270,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Materials

Bond Sub Sector

Metals and Mining

Issuer Credit Rating (S&P/ Fitch)

***/ BB+

Bond Credit Rating (S&P/ Fitch)

***/ BB+

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Make Whole Call

At any time prior to November 29, 2028, 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 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 verifying or calculating the Applicable Premium.

‘‘Applicable Premium’’ means, with respect to a Note at any redemption date, the greater of (i) 1.00% of the principal amount of such Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such Note on November 29, 2028, plus all required remaining scheduled interest payments due on such Note through November 29, 2028 (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, the Company will make an Offer to Purchase all outstanding Notes 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 Restricted 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 (as such term is used in Rule 13d-3 of the Exchange Act) of less than 50.1% of the total voting power of the Voting Stock of the Company;

(4) individuals who on the Original Issue Date constituted the Board of Directors (together with any new directors whose election or nomination was approved by a vote of at least two-thirds of the members of the Board of Directors then in office who were members of the Board of Directors on the Original Issue Date 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; or

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

Equity Call

At any time and from time to time prior to November 29, 2028, 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 106.925% 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.

‘‘Equity Offering’’ means (i) any bona fide primary public offering or private placement of Common Stock of the Company after the Original Issue Date or (ii) any bona fide secondary public offering or secondary private placement of Common Stock of the Company beneficially owned by a Permitted Holder, after the Original Issue Date the net proceeds of which are contributed to the common equity capital of the Company; provided that the aggregate gross cash proceeds received by the Company from such transaction are no less than US$20.0 million (or the Dollar Equivalent thereof).

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Coupon Dates	Coupon Receive	Principal Amount	Cash Flow

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