Jiayuan International has been granted RMB43 billion lines of credit and launched to offer private placement notes in an amount of US$225 million
HONG KONG, CHINA – Media OutReach – 23 April 2019 – Jiayuan International Group Limited (“Jiayuan International” together with its subsidiaries, collectively the “Group”; SEHK stock code: 02768), an established property developer of both large-scale residential and integrated commercial complex projects in China, is pleased to announce that it has entered into the strategic cooperation agreements with various financial institutions in the PRC under which the lines of credit in an amount of RMB43 billion will be granted. Such financial institutions include Baoshang Bank Co., Ltd., Daye Trust Co., Ltd., Guotong Trust Co., Ltd. and AVIC Trust Co., Ltd. Meanwhile, the Group also announced that it would offer private placement notes in an amount of approximately US$225 million to strengthen its financial position.
For granting the lines of credit in an amount of RMB43 billion to Jiayuan International from several financial institutions, it reflects the institutions’ confidence in Jiayuan International’s prospect and their recognition to the Group’s performance in corporate governance and its risk control capability.
Meanwhile, the announcement for launching the offer for private placement notes of Jiayuan International in an amount of US$225 million has been announced in Frankfurt. The notes to be issued will exchange all outstanding senior notes due 2019 that Jiayuan International previously issued. The issuance of the private placement notes is expected to be completed within a short period of time.
Mr. Shum Tin Ching, Founder and Chairman of Jiayuan International expressed, “A consistently strong financial position is the important pillar to promote diversified business development. Financial institutions in the PRC have stepped up their support for the private sector of the economy. Jiayuan International, as a leading privately owned enterprise under the support of ample fund, will continue to expand business diversification with pragmatic manner. In the future, the Group will continue to capitalise on the state policies by acquiring lands or property development projects in the Yangtze River Delta and Guangdong-Hong Kong-Macau Greater Bay Area through open auctions, merger and acquisition or joint ventures. It will also seek to acquire quality property projects in provincial capitals and economically vibrant cities in the PRC and the regions which are covered by Belt and Road Initiative so as to maximise the shareholder value.”
About Jiayuan International
Jiayuan International is an established property developer of large-scale residential and integrated commercial complex projects in different major cities in the People’s Republic of China (“PRC”). With over 20 years of experience in property development, the Group develops property projects through comprehensive planning, meticulous quality control, sophisticated operating systems and experienced professional teams to meet the needs of different regions and strengthen the Group’s brand image. As of 31 December 2018, the Group has a portfolio of more than 45 property projects in China, covering the cities of Nanjing, Yangzhou, Changzhou, Nantong, Taizhou, Zhenjiang and Suzhou. Since 2016, the Group has taken the lead in entering Guangdong-Hong Kong-Macao Greater Bay Area, and has successively obtained a number of quality projects in Shenzhen, Jiangmen and Macau. In 2018, it established a joint venture company in Hong Kong to formally enter the Hong Kong real estate market. It also acquired the quality property projects in Shanghai, property management business and intends to acquire the property projects in Anhui province from Mr. Shum Tin Ching, the chairman of the Group. Such moves can consolidate Jiayuan International’s brand influence in the Yangtze River Delta. In addition, the Group also succeeded in expanding its market coverage to key provincial capital cities, including Guiyang and Urumqi as well as the market of Cambodia – it signifies a milestone towards the internationalization of the Group’s business.