China Hongqiao plans USD convertible bond offering, buyback

China Hongqiao Group Limited, a Cayman Islands-incorporated aluminum manufacturer listed on the Hong Kong Stock Exchange (HKEX: 1378), intends to launch an international offering of USD-denominated convertible bonds, exclusively targeting professional investors. The company also plans a concurrent repurchase of shares notionally underlying the bonds. The bond issuance will refinance existing offshore debt and for general corporate purposes. The company has been granted a waiver from strict compliance with certain Listing Rules and the Buy-backs Code. UBS AG Hong Kong Branch and CLSA Limited, CMB International Capital Limited, CNCB (Hong Kong) Capital Limited, Dragonstone Capital Management Limited, Crédit Agricole Corporate and Investment Bank and Deutsche Bank AG, Hong Kong Branch are acting as Joint Bookrunners and Joint Lead Managers for the offering. The company urges shareholders to exercise caution when dealing in the securities of the Company.