Shenzhen OCT cuts bond rate, offers put option to investors

Shenzhen Overseas Chinese Town Co., Ltd. has decided to lower the coupon rate for its "21 OCT 02" bond by 100 basis points for the remaining two years. The new annual coupon rate for the period starting January 11, 2026, until January 10, 2028, will be 2.89%. Previously, the bond carried a 3.89% interest rate for the first five years.

Bondholders have the option to put back all or part of their bonds to the issuer at a price of 100 yuan per bond (excluding interest). The put option registration period is scheduled from November 27, 2026, to December 3, 2026. Put funds will be disbursed on January 12, 2026. Investors choosing to exercise the put option will receive accrued interest for the period from January 11, 2021, to January 10, 2026, totaling 38.90 yuan per 10 bonds (pre-tax).

The company will not remarket the bonds repurchased through this put option. Investors are advised to consider potential losses when exercising the put option.