HENDERSON LAND plans to issue convertible bonds with a total principal amount of HKD 8 billion
HENDERSON LAND plans to issue HKD 8 billion of convertible bonds, which will mature in 2030 with an annual interest rate of 0.5%. Each bond has a face value of HKD 2 million, with an initial conversion price of HKD 36 per share, expected to be convertible into approximately 222 million shares, accounting for about 4.59% of the issued shares. The net proceeds are expected to be approximately HKD 7.92 billion, primarily for general corporate purposes and refinancing. The company will apply for listing on the Vienna Stock Exchange and the Hong Kong Stock Exchange
According to the announcement from HENDERSON LAND (00012), on July 8, 2025, the issuer, our company (as the guarantor of the issuer), and the handling party will sign a subscription agreement regarding the subscription by the handling party or its solicited subscribers for bonds to be issued by the issuer with a total principal amount of HKD 8 billion (0.5% guaranteed convertible bonds maturing in 2030), subject to the conditions stipulated in the subscription agreement. The issue price of the bonds will be 100% of the total principal amount, and each bond will have a face value of HKD 2 million and its integral multiples.
Based on the initial conversion price of HKD 36 per share and assuming the bonds are fully converted at the initial conversion price without issuing other shares or repurchasing shares, the bonds will convert into approximately 222 million convertible shares, equivalent to about 4.59% of the total number of shares issued as of the date of this announcement and approximately 4.39% of the total number of shares issued after the allocation and issuance of convertible shares. The convertible shares will be allocated and issued according to the issuance authorization and will be fully paid, enjoying equal status with the issued shares in all respects.
Our company will apply or facilitate the application for the approval of the bonds to be listed on the ViennaMTF operated by the Vienna Stock Exchange (or other internationally recognized stock exchanges that the issuer may decide from time to time). Our company will also apply for the approval of the convertible shares to be allocated and issued after the conversion of the bonds to be listed on the Hong Kong Stock Exchange.
The net proceeds from the issuance of the bonds will be approximately HKD 7.92 billion. Our company intends to use the net proceeds for general corporate purposes and/or refinancing
