Company News - 21 March 2018

AMTD completes US$100mm short-term senior bond offering for CNLP

On February 1, 2018, China Logistics Property Holdings Co., Ltd (1589.HK, “CNLP” or the “Company”) successfully priced a Reg-S US$100mm 362-day short-term senior bond offering (the “Transaction”), with AMTD acting as the Joint Bookrunner and Joint Lead Manager. Together with AMTD acting as the Joint Global Coordinator for CNLP’s US$460mm HK IPO, the Sole Financing Arranger of its US$200mm loan in 2016 and the debut US$100mm 3-year senior bond offering in 2017, AMTD has further assisted the Company to widen its financing channels in the international capital markets, demonstrating AMTD's effort and commitment in providing in-depth services to key clients.

Issuer of the Transaction is China Logistics Property Holdings Co., Ltd (1589.HK) with certain non-PRC subsidiaries providing guarantees. CNLP is rated B2 / B (Moody's / Fitch), the bonds are unrated and will be listed on the Hong Kong Stock Exchange. Benefiting from the Company’s unique flexible business model and solid credit profile, the Transaction was well-received by international capital markets. During the bookbuilding process, the final orderbook amounted to over US$200mm representing over 2x oversubscription to its offering size.

The Transaction represents the 60th offshore bond offering completed by AMTD since 2016 and the 3rd deal this year, demonstrating AMTD’s credentials and strong execution capability in the international debt capital markets. Other than CNLP, AMTD has successfully assisted multiple Chinese and Hong Kong property developers to access the international capital markets since 2016. AMTD has maintained a long term relationship with various bond issuers and has repeatedly assisted them to tap the most constructive window in the international debt capital markets. Some of the Chinese and Hong Kong property developers include Tahoe Group (000732.SZ), Yango Group (000671.SZ), China Aoyuan Property (3883.HK), Oceanwide Holdings (000046.SZ), Logan Property (3380.HK), Yida China (3639.HK), Yango Holdings, 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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