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New World Development Company Ltd - Tender Offer (MDA) - Results

New World Development Company Ltd - Tender Offer Results- XS1549621586 - XS2488074662 - XS2028401086 - XS2175969125 - XS2282055081 - XS2348062899 - XS2435611327

05 DECEMBER 2023


Full announcement, including disclaimers and restrictions is available at: Hong Kong Exchanges and Clearing Limited


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"The Tender Offer expired at 4:00 p.m. (London time) on 1 December 2023 (the "Expiration Deadline").


The Board accordingly announces that:


(a) as at the Expiration Deadline,

(i) U.S.$188,580,000 in aggregate principal amount of the NWCL Notes;

(ii) U.S.$63,609,000 in aggregate principal amount of the 2027 Notes;

(iii) U.S.$405,040,000 in aggregate principal amount of the 2029 Notes;

(iv) U.S.$209,781,000 in aggregate principal amount of the 2030 Notes;

(v) U.S.$66,790,000 in aggregate principal amount of the 2031 Notes;

(vi) U.S.$424,115,000 in aggregate principal amount of the 2021 Securities; and

(vii) U.S.$229,096,000 in aggregate principal amount of the 2022 Securities,

have been validly tendered pursuant to the Tender Offer;


(b) the Offeror has accepted for purchase U.S.$610,283,000 in aggregate principal amount of the Target Bonds (the "Final Acceptance Amount"), comprising:


(i) U.S.$95,779,000 in aggregate principal amount of the NWCL Notes, representing approximately 15.96 per cent. of the outstanding aggregate principal amount of the NWCL Notes;

(ii) U.S.$28,000,000 in aggregate principal amount of the 2027 Notes, representing approximately 14.00 per cent. of the outstanding aggregate principal amount of the 2027 Notes;

(iii) U.S.$222,000,000 in aggregate principal amount of the 2029 Notes, representing approximately 23.37 per cent. of the outstanding aggregate principal amount of the 2029 Notes;

(iv) U.S.$111,000,000 in aggregate principal amount of the 2030 Notes, representing approximately 19.72 per cent. of the outstanding aggregate principal amount of the 2030 Notes;

(v) U.S.$51,785,000 in aggregate principal amount of the 2031 Notes, representing approximately 40.51 per cent. of the outstanding aggregate principal amount of the 2031 Notes;

(vi) U.S.$55,600,000 in aggregate principal amount of the 2021 Securities, representing approximately 4.63 per cent. of the outstanding aggregate principal amount of the 2021 Securities; and

(vii) U.S.$46,119,000 in aggregate principal amount of the 2022 Securities, representing approximately 9.22 per cent.


of the outstanding aggregate principal amount of the 2022 Securities, 3 each as at the date of this announcement (each a "Series Acceptance Amount") and each at the relevant Purchase Price (each as set out below);"


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New World Development Company Ltd - Tender Offer - XS1549621586 - XS2488074662 - XS2028401086 - XS2175969125 - XS2282055081 - XS2348062899 - XS2435611327

23 OCTOBER 2023


Full announcement, including disclaimers and restrictions is available at: Hong Kong Exchanges and Clearing Limited




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"Rationale for the Tender Offer


The rationale for the Tender Offer is to optimise the cost of capital and debt profile of the Offeror. The Tender Offer also provides liquidity to investors at premium to market price."


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