Summary by Futu AI
Yuexiu Properties announced on 12 January 2024 that it has entered into a subscription agreement with the Joint Lead Operator to add RMB 7 billion of guaranteed notes due 2026 to RMB4.00. The incremental invoices will be merged into a single series with RMB5.1 billion 4.00 cm guaranteed notes issued on November 15, 2023. The incremental invoice will only be offered to professional investors and will be applied for listing on the Australian Stock Exchange. The net proceeds will be used to replace the Group's medium-term external debt maturing within one year. The increased invoice is expected to be rated “Baa3” by Moody's. Completion of the Subscription Agreement shall be subject to prior notification of the Meeting or Exemption of the Agreement and may be terminated in certain circumstances. Shareholders and potential investors should exercise caution.