The first suggestive announcement on the proposed reduction of the coupon rate of “190000 ke01” corporate bonds
Securities code: 00000 2, 299903, 112844 securities abbreviation: Vanke A, Vanke h, 190000 01
Announcement No.: < 10000 ＞ 2021-134
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete, and shall be jointly and severally liable for false records, misleading statements or major omissions in the announcement.
China Vanke Co.Ltd(000002) (hereinafter referred to as the “issuer” or “company”) issued ” China Vanke Co.Ltd(000002) 2019 special corporate bonds for Housing leasing to qualified investors (phase I)” (hereinafter referred to as “current bonds” or “190000 ke01”), According to the issuer’s option to adjust the coupon rate set in the prospectus for the public offering of special corporate bonds for Housing leasing (phase I) to qualified investors in 2019 (hereinafter referred to as the “prospectus”), the company plans to reduce the coupon rate of the bonds for the next two years, as follows:
1、 Relevant provisions in the prospectus
The issuer’s option to adjust the coupon rate: the issuer has the right to decide whether to adjust the coupon rate of the subsequent term of the current bond at the end of the third year of the duration of the current bond. The issuer will issue an announcement on whether to adjust the coupon rate and the adjustment range of the current bonds on the information disclosure media designated by the CSRC on the 30th trading day before the interest payment date of the third interest bearing year of the current bonds. If the issuer fails to exercise the interest rate adjustment right, the coupon rate of the subsequent term of the current bond will remain unchanged.
Investors’ repurchase option: after the issuer issues an announcement on whether to adjust the coupon rate and adjustment range of the current bonds, investors have the right to choose to repurchase all or part of the current bonds held by them to the issuer according to the face value before the interest payment date of the third interest bearing year of the current bonds. The interest payment date of the third interest bearing year of the bonds is the resale payment date. The company will complete the resale payment in accordance with the relevant business rules of the Shenzhen Stock Exchange and the registration company.
Bond interest rate and its determination method: the coupon rate of current corporate bonds is determined by bookkeeping and filing, and is fixed for the first three years of its duration. If the issuer exercises the option to adjust the coupon rate, the coupon rate of the unsold part shall be the coupon rate of the previous three years plus / minus the adjustment basis point for two years after its duration, and shall remain unchanged for two years after its duration. If the issuer does not exercise the option to adjust the coupon rate, the coupon rate of the unsold part will remain unchanged for 2 years after its duration.
2、 Interest rate adjustment intention of the issuer
The coupon rate of the current bond is 3.65% in the first three years of its duration (February 26, 2019 to February 25, 2022), which is fixed for the first three years of its duration. According to the actual situation of the company and the current market situation, the company initially intends to reduce the coupon rate for two years after the duration of the bonds (February 26, 2022 to February 25, 2024). The final adjustment range of the coupon rate of the bonds shall be subject to the announcement on whether to adjust the coupon rate and the adjustment range disclosed by the company on January 10, 2022.
3、 Whether the adjustment complies with the instructions agreed in the prospectus
According to the provisions of the prospectus of the bonds, if the issuer exercises the option to adjust the coupon rate at the end of the third year of the duration of the bonds, the coupon rate of the unsold part in the second year after its duration is the coupon rate of the previous three years plus / minus the adjustment basis point. Accordingly, the company can choose to increase or decrease the coupon rate, which will remain unchanged for 2 years after the duration. The proposed reduction of the coupon rate of the bonds complies with the relevant provisions of the prospectus of the bonds, and the issuer will bear corresponding legal liabilities for the reduction of the coupon rate of the bonds.
4、 Contact information of issuer and bond trustee
If the current bond investor has any suggestions on the issuer’s reduction of the coupon rate of “190000 ke01”, please contact the issuer or the current bond trustee Citic Securities Company Limited(600030) through the contact information disclosed in this announcement before January 7, 2022 and communicate the resale intention. According to the prospectus, the company will disclose the announcement on whether to adjust the coupon rate and the adjustment range of the bonds on January 10, 2022. The contact information of the issuer and the bond trustee is as follows:
1. Issuer: China Vanke Co.Ltd(000002)
Contact address: Vanke center, No. 33, Huanmei Road, Dameisha, Yantian District, Shenzhen
Postal Code: 518083
Contact: Mao min
Tel.: 0755-22198132
Fax: 0755-255316962, trustee and lead underwriter: Citic Securities Company Limited(600030) legal representative: Zhang Youjun, registered address: North block, excellence Times Square (phase II), No. 8, Zhongxin Third Road, Futian District, Shenzhen contact: Yang Fang, Deng Xiaoqiang, Chen Donghui, Liu fenyue Tel.: 021-20262380 Fax: 010-60833504 this announcement is hereby made.
