NWS issues CNY guaranteed bonds
NWS Holdings Limited ("NWS"; Hong Kong stock code: 659) is pleased to announce that a subsidiary of NWS (the "Issuer") will issue CNY guaranteed bonds in an aggregate principal amount of CNY1 billion at an offer price of 99.288%, bearing an interest rate of 2.75% per annum and due in 2014. The bonds will be listed on the Main Board of the Singapore Exchange Securities Trading Limited.
NWS believes that the issuance of these guaranteed bonds can strengthen its CNY war-chest. While NWS remains committed to tapping opportunities to sustain long-term development, the net proceeds of approximately CNY0.99 billion (equivalent to approximately HK$1.19 billion) can well position itself to fund future acquisition to capitalize on the upside potential of Mainland China.
The completion of the issuance of these guaranteed bonds is subject to the terms and conditions as set out in the subscription agreement entered into among the Issuer, NWS and The Hongkong and Shanghai Banking Corporation Limited, the sole bookrunner and the sole lead manager, on 6 July 2011.