On June 12th, Ge Long Hui reported that Da Yu Fin (01073.HK) announced that on June 12th, 2024, the company purchased notes with a face value of $250,000 at a discount price of about HKD 1.6 million through the buyer (Yu Ming High Dividend Fund, the company's indirectly wholly-owned subsidiary). Currently, the buyer holds notes with a face value of approximately $1.8 million and a total purchase cost of approximately HKD 11.9 million. It plans to increase its shareholding to a maximum of $2 million at a discount price, but this will not trigger a significant transaction.
The notes include: (i) notes issued by the issuer (i.e. Shui On Development (Holding) Limited) with an outstanding principal amount of US$500 million, an interest rate of 6.15%, and can be redeemed at 100 starting from May 24, 2024 and guaranteed by the guarantor (i.e. Rui'an Real Estate Co., Ltd.); and (ii) notes issued by the issuer with an outstanding principal amount of approximately US$490 million, an interest rate of 5.5%, and can be redeemed at 101.375 starting from March 3, 2024 and guaranteed by the guarantor.