West China Cement to issue new notes, tenders for existing 2026 bonds

West China Cement Limited is proposing an issue of USD-denominated senior notes to professional investors, with proceeds to be used for repurchasing, redeeming, or repaying existing indebtedness, including the 2026 Notes, and for working capital. The new notes will be offered and sold outside the United States under Regulation S, with China International Capital Corporation Hong Kong Securities Limited, The Hongkong and Shanghai Banking Corporation Limited, and J.P. Morgan Securities (Asia Pacific) Limited appointed as joint global coordinators, lead managers, and bookrunners.

Concurrently, the company has launched a tender offer to purchase its outstanding 4.95% senior notes due 2026 from eligible holders. The tender offer commenced on November 18, 2025, with an expiration deadline of 5:00 p.m. (Central European Time) on November 28, 2025. The purchase price for the 2026 Notes is US$1,012.38 per US$1,000 principal amount, plus accrued and unpaid interest.

The tender offer is contingent on the successful consummation of the proposed new notes offering. As of the announcement date, the outstanding principal amount of the 2026 Notes is US$600,000,000.