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JY Grandmark intends to issue of US$152.1 million 7.5% senior notes due 2023

– Media OutReach –
21 January 2022 – JY Grandmark Holdings Limited (“JY Grandmark” or the
“Company”, which together with its subsidiaries, is referred to as the “Group”,
stock code: 2231), a property developer and operator and property management
service provider based in the People’s Republic of China (the “PRC”), is pleased
to announce that the Group intends to issue US$152.1
million 7.5% senior notes due 2023. Haitong International
Securities Company Limited (Haitong International) is the sole global
coordinator, joint bookrunner and joint lead manager.

Certain relatives of Mr. Chan Sze Ming
Michael, an executive Director and the chairman of the Company, have
participated in the Exchange Offer as well as the subscription to the
Concurrent New Money Issuance and are expected to be issued approximately 84.98%
of the total principal amount of the New Notes to be issued.

In addition, the
Group announced the results of exchange offer for the 7.5% senior notes due 2022.
As at the exchange expiration deadline, US$149.6 million of the existing notes,
representing approximately 96.52% of the total aggregate principal amount of
the outstanding existing notes, have been validly tendered for exchange and
accepted pursuant to the exchange offer.


Mr. Michael Chan, Chairman and Executive Director of JY Grandmark said, “The consummation of the Exchange Offer and the Concurrent New Money Issuance will enable
the Group to extend its debt maturity profile and improve its debt structure. In view of the
challenging operating environment, JY Grandmark is committed to optimizing the
debt structure and adhering to prudent financial strategies and policies to
improve the Group’s resilience. Looking ahead, the Group will continue to
strive to optimize its financial structure and broaden financing channels. The
sound financial conditions and diversified funding channels enabled the Group
to achieve sustainable and high-quality development under the background of
tightening funding in the industry.”

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