Gelonghui, November 8th | SIIC Environment (00807.HK) announced the announcement regarding the issuance of the second phase corporate bonds with a total amount of RMB 1.5 billion and an initial annual interest rate of 3.4%. According to the terms of the second-phase corporate bond issuance, holders of the second-phase corporate bonds have the right to sell back all or part of the second-phase corporate bonds to the company at the end of the third year from the start of issuance.
During the repurchase registration period (i.e. from October 24, 2024 to October 28, 2024, only on trading days), holders of the second-phase corporate bonds have registered to sell back a total of 15 million second-phase corporate bonds at the repurchase price of RMB 100 per bond (i.e. the face value of the second-phase corporate bonds), with a total principal amount of RMB 1.5 billion.
On October 29, 2024, the company completed the repurchase registration of 15 million second-phase corporate bonds, accounting for approximately 100% of the initial principal amount of the second-phase corporate bonds. This repurchase will be paid in cash through internal resources and is expected to have no significant impact on the operation and financial condition of the group. The maturity date for the repurchased bonds is November 15, 2024.
The board of directors hereby announces that the company will take the necessary steps to cancel the registered repurchased bonds. Upon cancellation of the registered repurchased bonds, there will be no outstanding second-phase corporate bonds. According to the terms of the second-phase corporate bond issuance, the company has the right to adjust the interest rate of the second-phase corporate bonds at the end of the third year from the start of issuance.
The board of directors hereby announces that based on the company's actual situation and current market conditions, the annual interest rate of the second-phase corporate bonds will be adjusted from 3.4% to 1.5%, effective from November 15, 2024.
The board of directors also announces that the company will pay the interest on the second-phase corporate bonds from November 15, 2023, to November 14, 2024 (inclusive of both days), on November 15, 2024. The interest on the second-phase corporate bonds from November 15, 2023, to November 14, 2024 (inclusive of both days) will be paid on a simple interest basis, with an annual interest rate of 3.4%.
