Company News - 31 October 2017

AMTD completes US$175mm reopening of 3yr senior bond for LVGEM

On October 17, 2017, LVGEM (China) Real Estate Investment Company Limited (“LVGEM” or the “Company”, 95.HK) successfully priced a US$175mm re-opening of its Reg S 3-year senior bond offering due 2020, with AMTD acting as the Joint Bookrunner and Joint Lead Manager. Following the Company’s inaugural USD bond issuance in August this year, AMTD has once again assisted the Company to complete the Company’s re-opening, further enhancing AMTD’s leadership in the Chinese property high-yield issuance market.

LVGEM is a well-known comprehensive real estate developer and commercial property operator in China, focusing on the Greater Bay Area. The Company has extensive experience in urban redevelopment projects. Issuer of the Transaction is Gemstones International Limited, a SPV incorporated in BVI and wholly-owned by the Company, whereas the Company and certain of its offshore subsidiaries provided guarantee. LVGEM is rated B2 / B+ (Moody's / Fitch) and the bonds are rated B3 / B+ (Moody’s / Fitch), which is the same issuance structure as the original bond offering.

Benefiting from the Company's comparative advantage and professional skills in urban redevelopment projects, the Transaction was well received by the international capital markets. The syndicate group also included Nomura, Guotai Junan, BOSC International, UBS, SPDB International, BOCOM International and VTB Capital.

AMTD has completed 53 and 33 offshore bond offerings since 2016 and year-to-date, demonstrating AMTD’s influence and strong execution capability in the international debt capital markets.

AMTD has extensive experience in assisting property developers to complete offshore fundraising. In addition to working with LVGEM, AMTD has repeatedly served multiple Chinese and Hong Kong property developers for their USD bond issuances, including Yango Holdings, China Aoyuan Property (3883.HK), China Logistics Property Holdings (1589.HK), Oceanwide Holdings (000046.SZ), Logan Property (3380.HK), Yida China (3639.HK), China South City (1668.HK), Yuzhou Properties (1628.HK), Guangzhou R&F (2777.HK), Ronshine China (3301.HK), Xinhu Zhongbao ( 600208.CH), Jiayuan International (2768.HK), Regal Hotels (78.HK) and Far East Consortium International (35.HK) etc.

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