CIFI issued US$350 million senior notes at a coupon rate of 5.25% due 2026

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Redemption of US$420 million senior notes and perpetual bonds reduce average financing costs effectively and optimize debt structure

 

HONG KONG SAR
– Media OutReach – 19
November 2020 – CIFI Holdings
(Group) Co. Ltd.
(“CIFI” or the “Group”, HKEx stock code:
884), a leading real estate developer and investor in first-, second- and
robust third-tier cities in China, is pleased that the Group successfully
priced its US$350 million,5.5-year
senior notes with coupon rate of 5.25% at par on 6 November 2020. Concurrently,
the Group announced its offer to repurchase its two existing senior notes due
in the first half of 2021 with coupon rates of 7.625% and 6.875% respectively
and to redeem one perpetual bonds with a coupon rate of 5.375% for a total sum
of US$420 million. The move can help CIFI reduce the average financing costs, save
on interest expenses, and optimize its overall debt structure.

Large
institutional investors enthusiastically subscribed for CIFI’s newly issued
senior notes with positive response from the capital market, reflecting the
market’s recognition of CIFI’s credit quality. The final over-subscription of
the senior notes was 3.5 times, and total order at peak time was nearly 5 times
of the issue size. The Group’s final redemption scale has been upsized from
US$350 million to US$420 million, which fulfilled the market demand and investors’ repurchase needs for two
high-yield bonds, and also expanded the redemption scale
to meet their repurchase needs for perpetual bonds. The deal ranked the first
in the scale of repurchase agreements among recent Chinese high-yield notes
issuers,
and became one of the most active participations in the capital market.

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Representative of CIFI, said “Through its active debt management,
the Group effectively reduces both its average financing cost and its short-term
liabilities, thus maintaining its gearing ratio at a reasonable level and
optimizing its overall debt structure. Looking ahead, the Group will continue
to explore diverse financing channels, and maintain its healthy financial
position and abundant cash flow.”

About CIFI (Group):

Headquartered
in Shanghai, CIFI is one of China’s top real estate developers. CIFI
principally focuses on developing high-quality properties in first-, second-
and select third-tier cities in China. CIFI develops various types of
properties, including residential buildings, offices and commercial complexes.

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To
learn more about the Company, please visit CIFI’s website at: http://www.cifi.com.cn

CIFI issued US$350 million senior notes at a coupon rate of 5.25% due 2026

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CIFI issued US$350 million senior notes at a coupon rate of 5.25% due 2026 - Brand SpurCIFI issued US$350 million senior notes at a coupon rate of 5.25% due 2026 - Brand Spur

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CIFI issued US$350 million senior notes at a coupon rate of 5.25% due 2026 - Brand SpurCIFI issued US$350 million senior notes at a coupon rate of 5.25% due 2026 - Brand Spur

Latest News

Securing Payments in Asia: Omise Integrates the EMV 3DS 2.2 Protocol Using Netcetera’s 3DS Server

Securing payments in Asia with latest 3-D Secure technology - Omise integrates the EMV(R) 3DS 2.2 protocol using Netcetera's 3DS Server

 

ZURICH, SWITZERLAND and SINGAPORE - EQS Newswire - 27 January 2021 - 

Securing payments in Asia with latest 3-D Secure technology
Omise integrates the EMV 3DS 2.2 protocol using Netcetera's 3DS Server


The Payment Service Provider Omise has implemented the Netcetera 3-D Secure Server to secure online payment transactions in the APAC region. Netcetera, a market leader for digital payment solutions, offers certified products for 3DS payment processing, and promotes secure and frictionless consumer authentication. With the go-live beginning of January 2021, Omise is among the first PSP customers to implement the latest EMV(R) 3DS 2.2 protocol, enabling them to increase the approval rates and reduce fraud.

PSPs, merchants and acquirers need to reduce the risk for non-authenticated transactions, associated refunds and lost revenue, while at the same time establishing a frictionless flow and improving the cardholder experience during online shopping. Finding the right balance of serving both security and convenience is a challenge.

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To successfully address this challenge, Omise decided to implement the network-certified and PCI-ready Netcetera 3-D Secure Server on premise solution. They are among the first PSPs to implement the 3DS server with the latest protocol EMV 3DS 2.2. Jatuporn Pinnuvat, Head of Product Innovation at Omise, says: "After a thorough evaluation and investigation of different suppliers and products, we decided on Netcetera with their flexible, agile and independent payment offering. We consider their 3DS server as the most reliable and viable product to support secure and convenient transactions. The implementation was smooth and efficient, and we were able to save a lot of time and effort thanks to the comprehensive technical documentation, educational webinars and Netcetera's professional support."


With their strong presence, providing service to thousands of merchants in the APAC region, Omise is a major player in the payment industry, and drives security and convenience of online payments together with Netcetera. Kiril Milev, Managing Director of Netcetera's location in Singapore, says: "We are convinced that we can bring value to the payment industry with our certified and state-of-the-art products, driving e-commerce payment forward. With this implementation at Omise, we are able to strengthen our presence in the APAC region". Ivan Ong, responsible for sales and business development in the area for Netcetera, adds: "We are committed to adapt our products to new regulations and protocols and are always among the first to be compliant. We are happy to count Omise among our customers, and as one of the first to implement our server with the latest 3DS 2.2 protocol."


Note:
EMV(R) is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.

About Netcetera

Netcetera is a global software company with cutting-edge IT products and individual digital solutions in the areas of secure digital payment, financial technologies, media, transport, healthcare and insurance. More than 2,000 banks and issuers, and 150,000 merchants rely on the digital payment solutions and globally certified 3-D Secure products of the market leader for payment security. The owner-managed company covers the entire IT lifecycle, from ideation and strategy to implementation and operation. The balanced combination of the latest technologies and proven standards ensures investment security, from large-scale projects to innovative start-ups. Founded in 1996, Netcetera is a holding company with 700 employees and is headquartered in Zurich, Switzerland, with additional locations across Europe, Asia and the Middle East.


Further information: netcetera.com

About Omise

Established in 2013, Omise is a payments platform which provides businesses with a modern end-to-end infrastructure to accept, process and disburse payments online. Working with Omise, merchants have access to powerful payment tools, comprehensive risk management solutions, as well as connection to card networks and consumers' preferred payment methods. Omise enables revenue growth and seamless payment experiences across online, in-store and in-app.


Omise is present in Thailand, Japan and Singapore. The company is the payments platform of choice for thousands of brands today.

Further information: omise.co

CIFI issued US$350 million senior notes at a coupon rate of 5.25% due 2026 - Brand Spur

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