Grandjoy adjusts bond rate, opens put option for "23 Grandjoy 01" bond

Grandjoy Holdings Group has announced a coupon rate adjustment for its "23 Grandjoy 01" bond (bond code: 148174.SZ). The new rate is 2.21% for the remaining two years of its five-year term, down from the initial 3.97%. This adjustment follows the company's right to modify the rate after the third year of the bond's existence. The bond, with an issuance and outstanding size of RMB 2 bn, commenced on January 19, 2023.

Concurrently, bondholders are granted a put option, allowing them to sell back all or part of their bonds at a price of RMB 100 per unit (excluding interest). The put option registration period is scheduled from December 4, 2025, to December 8, 2025, with settlement on January 19, 2026. Bonds tendered for put will still accrue interest at 3.97% for the period of January 19, 2025, to January 18, 2026.

Investors who do not register their put option during this period will be deemed to have chosen to continue holding the bonds. Grandjoy Holdings Group intends to remarket any bonds that are put back, with final remarketing details to be disclosed after the put option results are known.