Wonderful Sky Group completes Kaisa notes restructuring

Wonderful Sky Financial Group Holdings Limited announced on September 18, 2025, that it completed the exchange of its Old Kaisa Notes for a New Kaisa Package as part of the Kaisa Restructuring. The company exchanged its $5,000,000 principal amount of 11.25% notes due April 16, 2025, for a mix of New Kaisa Notes and Mandatory Convertible Bonds (MCBs) maturing between December 2025 and December 2032. This exchange represents an extension of maturity by approximately 2.7 to 7.7 years.

The New Kaisa Package includes various fixed-rate notes ranging from 5% to 6.25% interest due between 2027 and 2032, and MCBs with 0% interest converting to Kaisa Group Holdings Ltd. ordinary shares due between 2025 and 2032. The principal amounts of the New Kaisa Notes and MCBs also incorporate a 0.1% consent fee on the Old Kaisa Notes and their outstanding accrued interest of approximately $0.62m.

As the highest applicable percentage ratio for this acquisition exceeds 5% but is less than 25%, it constitutes a discloseable transaction under the Listing Rules, requiring notification and announcement. No cash consideration was paid or received by Wonderful Sky Financial Group Holdings Limited in this exchange.