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Yincheng International Holding Co. Ltd. - Exchange Offer Launch

YIncheng International Holding Co. Ltd announces an Exchange Offer

17 FEBRUARY 2023

Full announcement available via SGX


"Exchange Consideration

For each US$1,000 principal amount of outstanding Existing Notes that is validly tendered by or prior to the Exchange Expiration Deadline and accepted for exchange, an Eligible Holder will receive the Exchange Consideration consisting of: (a) US$1,000 in aggregate principal amount of the New Notes, and (b) Capitalized Interest. Any of the New Notes to be issued to any Eligible Holder in the exchange offer will be in a minimum principal amount (inclusive of Capitalized Interest) of US$200,000 and integral multiples of US$1 in excess thereof. Any fractional amounts of New Notes will be forfeited.

The New Notes will bear interest at 13.0% per annum, payable in arrears on the maturity date of the New Notes. The tenor of the New Notes will be 364 days.


Purpose of the Exchange Offer

The Company is conducting the exchange offer to improve its financial condition, extend its debt maturity profile,

strengthen its balance sheet and improve cash flow management."

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