SF Holding unit repurchases USD bonds to optimize capital

SF Holding (SZSE:002352) announced today that its wholly-owned overseas subsidiaries, SF Holding Investment Limited (SFHI) and SF Holding Investment 2021 Limited (SFHI 2021), have completed their tender offers to repurchase outstanding USD bonds. SFHI accepted for repurchase USD 101,371,000 worth of its SF HLDG N3002 bonds, representing approximately 15.50% of the outstanding principal. SFHI 2021 accepted for repurchase USD 78,306,000 of its SF HLDG N3111 bonds, representing approximately 10.88% of the outstanding principal. The repurchase price for SF HLDG N3002 bonds is USD 943.50 per USD 1,000 principal amount, while the repurchase price for SF HLDG N3111 bonds is USD 937.00 per USD 1,000 principal amount, plus accrued interest. The settlement is expected around June 4, 2025, after which the repurchased bonds will be cancelled. The company stated that the repurchase aims to optimize the company’s capital structure, reduce financing costs and exchange rate risks, and provide liquidity to bondholders.